Debt Consolidation Forums Getting a loan or mortgage and avoid foreclosure forums

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

member profile picture
Posts: 1
Credits: 22.25

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. Consult to an expert

Sub: #1 posted on Sat, 09/23/2017 - 16:14

sanderspatricia29 sanderspatricia29

(Posts: 582 | Credits: 60.99)

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.

Sub: #2 posted on Mon, 09/25/2017 - 13:37

tiarajoseph11 tiarajoseph11

(Posts: 292 | Credits: 41.67)

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

Sub: #3 posted on Mon, 09/25/2017 - 17:37

Good Nelly Good Nelly
Industry Expert
(Posts: 2654 | Credits: 531.24)

More information
  • Files must be less than 1.25 GB.
  • Allowed file types: txt pdf jpg jpeg png.
Post as a guest
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Post as a member

Share post

Page loaded in 0.898 seconds.