Closed on Condo as Primary Residence But Moved Out Of State

[Emmanuel Sesay]

Hello,

I Recently closed on a condo in Chicago but also moved to out of state to Indiana for college. I want to rent out the condo but I secured financing as primary residence and First Time Home Buyer. I want to rent out the condo but I have not lived in it. What are my options?

[Darius Ogloza]

Review your loan documents to ascertain exactly what it is you promised to do.  That said, people's lives take unexpected turns.  In a legal case, intent (absent a confession) can only be inferred from conduct and written and oral representations.