The hard & fast 7% and the 52 month look-back are gone, but many places are still trying to keep their % of rental/2nd homes in the single digits (with smaller average loan amounts and more person-hours to process/underwrite, they were never the most profitable niche for banks anyways, and the precedent has been set by FHFA that you as an individual bank can be punished after the fact and without advance notice if you do too many of them).

Choosing to make less in some alternative-universe way of 'punishing' the spouse by denying 1/5th of what more you could make seems ... to not be in the best interest of anyone in the equation.   

In truth and reality the only thing stopping anyone from doing any heinous criminal act at any given moment, is themselves. laws are for accountability, there is the fear of accountability and punishment although it is always a choice.

I found universal punishment tends to stop the perpetrator in their tracks - also called peer pressure.Show them the bill with a division of those who reside in that one unit.

We want  to stay in our condo over the winter.So, yes, I just found out the hard way it's a lot easier to rent out a "rental property" than it is to rent out one's home.My question to you experts is, can the tenants sue us or otherwise punish us for changing our minds?

(See: condemnation action, eminent domain, capital punishment)Copyright © 1981-2005 by Gerald N.

Just tell them, they won't punish you for it.

This business punishes landlords that give applicants a "chance".

That's seems like you are punishing them so much they will just leave

LOL - you should live there unless you're OK with mortgage fraud :)  I know of someone who did that and when I found out, gently reminded him that it's something investigated by the FBI - and is punishable with prison...