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Updated over 9 years ago on . Most recent reply

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371
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Matt Jones
  • Real Estate Agent
  • Pensacola, FL
303
Votes |
371
Posts

What happens if I don't move in Fannie Mae Property in 60 days? Bought as an owner occupant.

Matt Jones
  • Real Estate Agent
  • Pensacola, FL
Posted

I bought a fourplex from Fannie Mae about 60 days ago as an owner occupant and I have yet to move in.  I do plan to live there but I've had two contracts fall through on my house and I have a flip that is taking longer than expected(which ofcourse I should have expected).  I need to sell something so that I can fix up my fourplex and move into a unit.  What will FNMA do if someone reports me for not moving in by the deadline?  I did, and still do, intend to move in but I've had some circumstances beyond my control prevent me from moving.  Will they really fine me $10,000 for not being able to move in on time?

  • Matt Jones
  • [email protected]
  • 850-889-0945
  • Most Popular Reply

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    Wayne Brooks#1 Foreclosures Contributor
    • Real Estate Professional
    • West Palm Beach, FL
    13,508
    Votes |
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    Wayne Brooks#1 Foreclosures Contributor
    • Real Estate Professional
    • West Palm Beach, FL
    Replied

    As per their June directive:  they find you, arrest you, bring to the property, and then shoot you in public view as a deterrent to others.

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