It is probably one of the most popular lies one homebuyers give mortgage brokers, and it may get on the newest upswing: Receive a lesser interest and you can downpayment, applicants say they intend to entertain our house due to the fact a main residence when in fact they have zero such intention.

Paul Skeens, president out of Colonial Financial Class for the Waldorf, Md., states, We really need someone try to let me know one [our home] is owner-occupied twice a month, and [I] know darn better its not. Skeens states he then attempts to book them through the nuances – occupancy misrepresentation is actually unlawful and never worth the exposure.

Freddie Mac computer, the following-biggest home loan trader, says it’s perhaps not viewed a recently available increase in the occupancy fraud, but it is long been a routine misrepresentation from inside the financing files and you will our company is concerned about they, based on Jenny Brawley, a fraud detective in the organization. (mehr …)

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