It’s perhaps one of the most well-known lies you to homebuyers share with mortgage lenders, and it can be on this new upswing: Getting a lower life expectancy rate of interest and advance payment, people say it propose to take the house given that a main quarters while in truth they have no instance intention.
Paul Skeens, president away from Colonial Financial Group in the Waldorf, Md., states, We probably have somebody attempt to let me know that [our home] might be owner-filled double thirty days, and you may [I] know awful really its not. Skeens claims he then tries to publication her or him through the subtleties – occupancy misrepresentation try unlawful and never worth the risk. Continue reading “Loan providers and you will loan officers concur that they regularly come across falsehoods from the occupancy”