Updated over 8 years ago on .
Primary Residence Exemption
State: MI
My husband and I mortgaged a house in Oct intending to live there. The house we currently live in, is mortgaged and homesteaded in my name only. The new house needs work and now that we've looked more closely, we're probably going to flip instead. The new mortgage assumed owner occupancy and the deadline to file the affidavit and primary residence is fast approaching. Is the smart thing to list the new house as his primary only? I hate to change my homestead only to change it back in a few months. But, I also don't know how closely the bank follows who claims what. If it matters, I also have a rental, also in MI, and of course not homesteaded.
Suggestions, experiences?