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Updated over 7 years ago,
FHA Owner Occupancy Requirements - Less than One Year
In July, I moved into a 2 family that we purchased using FHA financing. We are now interested in moving to another area of town. I know you are supposed to owner occupy FHA properties for one year, but I am having a hard time finding details about that requirement, and the potential penalties for moving out a few months early. Does anyone know what the consequences of failing to owner occupy an FHA property for one year?