megan_stow asked:
If you get an equity loan at an owner occupied rate and then find out you need to move 2 weeks later can you buy another home and move without having legal repercussions?
It is under the “intention” of living in the property for 12 months though. And if you do intend to live there but something changes that you can’t, why can’t you move? It doesn’t state that you have to live there….
Linda
If you get an equity loan at an owner occupied rate and then find out you need to move 2 weeks later can you buy another home and move without having legal repercussions?
It is under the “intention” of living in the property for 12 months though. And if you do intend to live there but something changes that you can’t, why can’t you move? It doesn’t state that you have to live there….
Linda
Lillian
no because when you bought the house at a owner occupied. Non- Owner would be atleast 2.8% higher rate. So there would be legal problems! Bad idea.
Andrew
Yes you can move, absolutely. Your lender will NEVER come and knock on your door to make sure you are still living there. You can even have your loan statements sent to an “alternate address.” If you want to be completely sure and honest, ask your lender, they won’t change the conditions of your loan just because you ask questions.