Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 10 years ago on . Most recent reply

User Stats

371
Posts
303
Votes
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?

Most Popular Reply

User Stats

23,418
Posts
13,509
Votes
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
Votes |
23,418
Posts
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.

Loading replies...