Obviously, that leaves a lot open for interpretation, but that should really be their main objective.

Can you explain what that is ?

Don't get shiny object syndrome and get distracted with 20 different routes to take.

It goes into depth at explaining how ARMs work and how each borrower must be educated on them to ensure they know what they are getting into.Here is a link to the CHARM BookletIf the lender you are speaking with isn't disclosing this to you, I'd read the booklet and drill them on these very critical points of the loan and probably ask yourself if this is the lender you should go with...Cheers!

Thanks Scott and apologize for not explaining it well in my first post.

Apologize for the confusion; share that you were caught off guard by the inspector and the findings; explain that you did not realize that the Tenancy Form was itself a commitment within Housing. 

On the debt side , there’s 2 reasons , 1 personal reason I can’t explain but the other is I find it less stressful knowing I don’t owe the bank anything and they or anyone have no control over me .

This is taxation issue and your CPA should be able to explain what happened.

Hey Rick,Thanks for explaining the 1031 exchange and the possible changes. 

Explain that the edge is coming off.