All Forum Posts by: Katherine Frank
Katherine Frank has started 1 posts and replied 1 times.
Post: Owner occupancy clause and advice on FHA
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Can I get the occupancy clause lifted for an FHA loan or should I try to sell? I recently closed on a property I intended to move in with my boyfriend as we are having our first child. Unforeeen circumstances have occurred and I will no longer be living with him and will not be able to afford to live in the house by myself while I am on maternity leave, so I will be moving back home. I do plan on living there when I return to work and secure childcare. Can I rent the property for the first year? The paperwork says I have to intend to reside there for the first 12 months and I don't want to commit fraud. Is there anyway to lift this clause or should I just try to sell? My intent was to reside there, but on my salary and not working during maternity leave I know I won't be able to. The house is solely in my name.