General Real Estate Investing

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Michelle Wright
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FHA occupancy and job change

Michelle Wright
Posted Sep 2 2019, 22:47

Hi,

I recently purchased a home using an FHA mortgage and have been living in it for 6 months. I telecommute for my primary job (the one used to secure the loan), but I have a great opportunity for my second job. I teach science to low income children at residential wilderness camps, and I've been invited to help start a new camp. This is my second job, so it's not my primary source of income (not even close, if that matters). Since I telecommute, I could keep my current job while working at the camp as well, so I won't have any trouble making the mortgage payments.

I would LOVE to take this opportunity, but it would involve me moving out of state before my FHA occupancy term was complete. I don't want to rent my house out, my adult son could stay there rent free and go to school. Just to be clear: I'm not trying to "make a buck" off the FHA loan, this was an unexpected opportunity that dropped into my lap.

Bottom line:  Would this be considered mortgage fraud?  As much as I want to help, if I'm going to get into trouble, I'll have to say no.

Thanks in advance,

Michelle

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