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Updated over 9 years ago, 03/25/2015
Primary Residence Clause
Hello,
I just got the SFH that I live in refinanced about six months ago. I would like to purchase a duplex and move into that property as my primary residence, which I have been approved for financing. After reviewing the terms in my refinance, I noticed that there is a clause in there that I must occupy my current house as my primary residence for one year. Is this just another technicality, much like the clause about transferring a title for a property to an LLC., that I could breach without my current mortgage company finding out or even caring?
Thank you in advance.