The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tradelite who wrote (27953)	3/10/2005 7:22:23 AM
From: Tradelite	Read Replies (1) of 306849

oh, and as follow-up to my last post, also ask the lender about the difference in loan terms when it comes to actually occupying the property as a principal residence or using it as investment (or "speculative") property. If people are lying to their lenders about occupying the property in order to get a lower interest rate or better loan terms than an investor would, they are violating federal law. If any lender winks at the borrower's mispresentation about what he plans to do with the loan and the property, the lender risks a serious legal offense, as well. The world doesn't operate the way many people appear to assume it's operating these days. People such as Spitzer in New York are watching. How much risk should we assume people and institutions are taking? Felonies are not funny. Just ask Martha Stewart. <<Gg>>

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