is this Mortgage fraud?
So back in April of 2018 I bought a rental property using a conventional loan with 10% down on the house. It’s preforming well aside from the occasion tenet issue that’s been fixed accordingly.
My question is, during the closing process I was very vocal with the mortgage broker, my lawyer and everybody else in the room during closing that I was using this house as a rental property. They all said it was fine but I still HAD to sign a piece of paper stating that I would live there for a year. Again at this point I was vocal about using the property as a rental. My lawyer and broker both assured me it was just a semantic and I have nothing to worry about. I can rent it out immediately and there won’t be any issues.
Do I have anything to worry about? This sometimes keeps me up at night fearing the worst. I mean my lawyer and broker said it was fine and nobody is going to enforce it but I’m still slightly concerned.
Any feedback would be much appreciated, thank you in advance BP community!