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Can a vacation home be used for rental purpose if not mentioned while taking out the mortgage loan?

Date: Fri, 09/22/2017 - 22:24

Submitted by Peterkole
on Fri, 09/22/2017 - 22:24

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Total Replies: 3

Can a vacation home be used for rental purpose if not mentioned while taking out the mortgage loan?

While buying a second home, is it necessary to declare whether it will be used for a vacation home or a rental property? Can it be used for rental purpose if not mentioned previously?

NO, but you have to pay taxes

NO, but you have to pay taxes. Consult to an expert

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Submitted by Sanders Patricia on Sat, 09/23/2017 - 03:44

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Lying about whether a home is

Lying about whether a home is a second home or an investment property is mortgage fraud. If you're found out, you could face heavy fines.

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Submitted by tiarajoseph11 on Mon, 09/25/2017 - 01:07

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You should mention the right

You should mention the right thing to avoid facing unpleasant consequences later.

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Submitted by Good Nelly on Mon, 09/25/2017 - 05:07

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