Real estate blog entries tagged with occupancy fraud by Ken Cook, Web Dev, Brand Strategist 678-439-8683

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Home : Blogs : Ken "Yes You Can" Cook : Superior, HandCrafted Web Apps : Tag "occupancy fraud"

occupancy fraud: Just Another Example of Why Some of the "Lender Created Mess" Exists (A Fraud Saga) - 08/01/08 12:37 PM

I regularly receive emails from people asking for my assistance with short sales, loan modifications, etc. Since I'm a "real" loss mitigator and not one of those blue light special "I bought my *certification* with $1500 and a class" variety ... but I digress :)
Today I get this email:
hi, I'm just now hearing about short sales and am completely confused. I'm not at all educated in all of the terminology and rules and laws of real estate. In a nutshell: I have a condo with under $100k left on it. My father is on the title with me. He … (11 comments)

occupancy fraud: Occupancy Fraud, We're Watching You - 02/07/08 05:40 PM

It used to be the number one form of fraud: a buyer saying they intended to occupy a property when they never did.
If you don't know why an applicant would state they intend to occupy a property when they know they are purchasing it as an investment it has everything to do with being able to qualify for the loan. Lender guidelines for owner occupied properties are much less stringent than they are for non-owner occupied properties. Risk to the lender is much higher on investment properties therefore the gauntlet to approval for an investment loan is tougher than it is … (11 comments)

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Ken "Yes You Can" Cook

Marietta, GA

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Ken Cook, Web Dev, Brand Strategist 678-439-8683

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