Open Question: Is it mortgage fraud if…?
I finally got my bank to do a loan modification with the Making Home Affordale Plan. Due to being unemployed it hasn’t done anything for me but lower my mortgage, but I still can’t afford it. Since I can’t afford the mortgage by myself I was looking to sell it if not then move out and have someone move in and have them pay it til they either bought it or I found someone else to purchase my home. Called my bank they said that’s not an option because it needs to be my primary residence, even though I could have roommates paying my mortgage I can’t have tenants paying it. To cut to the chase would it still be considered mortgage fraud if after my trial period of 3 months was over I rented it out? I guess what my real question is if I do the Making Home Affordable plan now will that prevent me from ever renting out my house?
Tags: chase, Guess, Loan Modification, Mortgage Fraud, Open Question, Roommates, Trial Period
Posted in Money
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