Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

80
Posts
41
Votes
Frankie Betancourt
  • detroit, macomb
41
Votes |
80
Posts

Can i get in trouble with mortgage?

Frankie Betancourt
  • detroit, macomb
Posted

Hi yes i was wondering could i get in trouble if i were to take out a mortgage loan and claim that i was living in this home as a primary resident. But in reality renting it out and not telling my mortgage company about it? even so if i was doing this how would they know im actually renting it out and not living there? it is not like they are going to my home everyday knocking on my front door?

Most Popular Reply

User Stats

2,953
Posts
4,475
Votes
Alexander Felice
  • Guy with Great Hair
  • Austin, TX
4,475
Votes |
2,953
Posts
Alexander Felice
  • Guy with Great Hair
  • Austin, TX
Replied

common question

yes it's fraudulent. maybe they will find out, maybe they won't. The overwhelming majority of profit produced on the planet is done legitimately, you don't need to break any rules to get ahead.

In the army they would say "do the hard right, over the easy wrong"

The stip is that you live in the house for a year, forgiving any unintended scenarios where you would have to move out early, that would be fine, but you're supposed to intend to move in. I suggest you follow the rules.

Loading replies...