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Washington : Real Estate Advice

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  • Home Buying2
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Activity 3
Michael Meram, Real Estate Pro in Romeo, MI
Mon Jun 3, 2013
Michael Meram answered:
Washington Township is a beautiful city to live. I can help you explore Washington and show you around.

Michael Meram
Century 21 Collins
586.556.7733
0 votes 3 answers Share Flag
Judy Boyle, Real Estate Pro in Marlborough, MA
Wed Jan 5, 2011
Judy Boyle answered:
Hi Charan,

I think you are referring to properties that are listed with a third-party called Realty Trac. In order to obtain the addresses to these foreclosed properties, you need to sign up for a free trial.

I subscribe to Realty Trac so I would be willing to help you out if need be.

Thank you,

Judy
... more
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Andrew Marti…, Real Estate Pro in Orangevale, CA
Fri Nov 19, 2010
Andrew Martinez answered:
Jason,

This is a grey area and as long as the true intention is to occupy the property as a primary residence when you purchase the property and in fact occupy the property after the loan records there isn’t a set time frame. I doubt any lender will call a loan due because of a change in occupancy. I never heard of a monitoring of the type of occupancy after a loan closes by any lender either. As long as the mortgage payments are current you should be fine renting the property out. You will however sign disclosures stating you intend to occupy the property as a primary residence but there isn’t anything that states duration of time. If the intention is to state the property is occupied to obtain a lower mortgage rate and you never move in you did commit mortgage fraud. I would be surprised if you saw anything in writing that states you have to be in the property for a specific duration before you can rent it out. ... more
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