Mortgage Broker Or Lender, Louisville, KY
Thu Aug 23, 2012
â€œAnyway around thisâ€ translates to: Anyway to deceive the bank.
Lying about anything regarding obtaining a mortgage, including occupancy is a Federal offence. You do not have the money to pay those fines or else the mortgage would not be an issue. Have the relative arrange their own financing if they want to buy your home.
NMLS # 6395
Financing Kentucky One Home at a Time
When I say 'any around this' I mean are there any other options to get the house out of our name into a family members who wants to use it as an investment property. Both parties want to do everything legally...even though whole buy, sell, assume, system stinks!
If you kept ownership and kept the insurance up in your name and make no changes to anything and allowed a family member to live there while you kept making the payments, unless you invited the bank over the coffee and pastry how would they know anything has changed? You would not be lying to them because you won't say anything to them.