I don't very often advise people to study real estate licensing education material, however doing so might help you see both the nature of a licensee's relationship as an agent working under a broker's license and the broker's relationship with principal currently if formerly under a listing contract.I'm not suggesting that you get your license, although you may find that something that is ultimately worthwhile in doing.

The type of Fraud are identified in the FNMA Selling Guide(1), page 134, which include:...misrepresentation of occupancyOn page 1167, Verification of Owner-Occupancy, does indeed spell out post-closing review guidelines.As a practical matter, Fannie Mae form 3034 (Uniform deed of Trust) requires the occupancy of the property as borrowers principal residence for "at least one year after date of occupancy."

What you can do is go back to the Seller, since he is the principal party and review the current contract with him.

You'll have a contract, be very careful not to agree to do anything illegal in your contract that could void the deal.My prescription for a cheat is to give them enough rope to hang themselves.You can state that "the buyer shall not have any obligation to report any principal or interest payment made to the seller, nor shall the borrower deduct any interest payment for tax purposes" All true.

We made a large principal payment to get our LTV to just under 80% and asked Wells Fargo to remove the PMI.

When I begin making payments, as most of you know, it will include principal & interest, taxes and insurance.Question:If I plan to move out of my duplex, would I notify my insurance company to convert my coverage from homeowners to rental property insurance?

And you are locked in with the extra annual payment even in times when your cash flow is suffering, such as during a prolonged vacancy or eviction.If you want to get faster pay down, just make an annual contribution to additional principal equal to one month's payment.

I want to encourage you to add the following book to your business library:The Richest Man in Babylon by George ClasonIt is short and sweet and gives some great financial principals for success.Happy New Year BP nation.Happy hunting!

Each year they can then lower the principal by gifting 14k each to you.

Memphis is also where one of our Founders and Principals, @Jeffrey King, lives almost full time, year around.Speaking in broad terms, the largest difference in product for us is we focus on the A-B+ Class Memphis neighborhoods, which would be the $90K - $180K price points and $900-$1595 rents per month.