Primary or second residence affidavit

[Brian Wagner]

I bought an REO from Wilmington Savings Fund and they required me to sign an owner occupant affidavit that also said I would not sell or rent it within the first year of ownership. I bought it cash. This was NOT a HUD home. While I didn't intend to sell it, I lost my job and can no longer afford to keep it. I need the money that is tied up in it. Can't re-fi since I have no job.

Since there is no mortgage, would they ever know that I sold it? Would they care? I can't imagine they would keep tabs on all the properties that go through them.  I asked a friend at a title company if there is such a thing as flagging a title and she said no. Obviously I'm aware that public records would show a transfer of ownership.

Appreciate your thoughts!