General Discussion

Hassin Bin Sober

(27,494 posts)

30. Dude. I'm part owner of a mortgage company.

Wed Oct 29, 2025, 08:22 PM

Oct 2025

(I’ve been posting about mortgage stuff for years. It’s in my history. I’m not making it up)

Just literally had this scenario a couple months ago.

Our client, who planned on having her daughter live in the property part time, had more issues with the condo association board (they were squawking about the unit being investor occupied - It only came up because of a seller with a case of diarrhea of the mouth). My advice to her was show up on moving day with a pillow under her arm and loudly proclaim she’s off on her world tour.

The guidelines on second homes are so loose they are laughable. The underwriters used to only care the property was far enough (drive) away that it made sense but now they don’t even care about that (lm talking about in-town city units versus suburbs)

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kcoates

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Highlight:

Three words in Letitia James' mortgage contract doom the fraud case against her [View all] bigtree Oct 2025 OP

The author is incorrect FBaggins Oct 2025 #1

I'm no lawyer, but other lawyers disagree with you. Happy Hoosier Oct 2025 #2

Exclusive use DOES NOT mean that occupancy FBaggins Oct 2025 #3

Where did you get your information? dpibel Oct 2025 #4

You provided a link to the document FBaggins Oct 2025 #5

For the first year dpibel Oct 2025 #6

Yes - and the story is that she purchased the home for her grand niece's use FBaggins Oct 2025 #8

Did you read the entire article? dpibel Oct 2025 #9

I did - none of them are commenting on the topic in the title/OP FBaggins Oct 2025 #17

Pretzels are tasty! dpibel Oct 2025 #18

I assume that's not an intentional strawman FBaggins Oct 2025 #20

Not sure why you're so invested in this dpibel Oct 2025 #22

I'm not so sure, either. marble falls Oct 2025 #26

it really sucks when you have to NJCher Oct 2025 #16

this is specious bigtree Oct 2025 #7

Rent isn't actually part of the charges FBaggins Oct 2025 #15

smoke. No real prosecutor thought she should be charged. bigtree Oct 2025 #19

That part is true. It's clearly a politically-motivated prosecution FBaggins Oct 2025 #21

they're not going to spend much time parsing whether she visited the home or stayed there bigtree Oct 2025 #25

When you sign a document attesting to exclusive use you don't list everyone who will be occupying the property Hassin Bin Sober Oct 2025 #23

Very nicely put. marble falls Oct 2025 #27

That's true - and would be a great defense if it were relevant FBaggins Oct 2025 #28

Dude. I'm part owner of a mortgage company. Hassin Bin Sober Oct 2025 #30

Not possible with a 2nd Home IbogaProject Oct 2025 #24

Dudnt her niece live there? viva la Oct 2025 #29

When I was young a female CPA told me the expression "picking the fly shit out of pepper". twodogsbarking Oct 2025 #10

Quite the discussion above, unless I missed it..... KS Toronado Oct 2025 #11

Question: Who is being defrauded here? SpankMe Oct 2025 #12

K&R UTUSN Oct 2025 #13

She would be better off popsdenver Oct 2025 #14