financing questions for home - Posted by ARC

Posted by Ed Garcia on July 27, 2011 at 10:20:16:


Why don?t you have your family members live in the house that you have the lease on instead? That would illuminate your problem.

I?m assuming that your family member is going to pay rent to compensate for you paying on both homes. If not and you?re letting them live rent free, then I?m sure it wouldn?t make any difference.

If I were to circumvent my agreement and sincerely intend to live in the home 8 months later as you say. Then I would change my address on my driver?s license, as well as all of my important contacts or people I do business with. I?d receive my mail there, open up all utilities on the house in my name and show a presence at that residence. When the time comes for you to report your income taxes I would have the new address on those forms. It would then be difficult for anyone to challenge you.

Food for thought,

Ed Garcia

financing questions for home - Posted by ARC

Posted by ARC on July 26, 2011 at 20:12:52:

I was wondering if there are any penalties or
consequences for
purchasing a home through an FHA or Rural Development
claiming the home as being primary residence, then
family to live in it for 8 months until the purchaser
can move
in with them?(contract on lease is up in 8 months,
can’t get
out without paying remainder of the lease)