Can a vacation home be used for rental purpose if not mentioned while taking out the mortgage loan?
Date: Fri, 09/22/2017 - 22:24
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
Submitted by Sanders Patricia on Sat, 09/23/2017 - 03:44
( Posts: 1241 | Credits: )
Lying about whether a home is
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.
You should mention the right
You should mention the right thing to avoid facing unpleasant consequences later.
