If i Get out away from My Possessions, Performed I To visit Occupancy Fraud?
James Chen, CMT is actually a professional trader, funding agent, and you will international industry strategist. They have composed instructions toward technical research and you can forex authored by John Wiley and you will Sons and offered once the a guest professional toward CNBC, BloombergTV, Forbes, and Reuters among other financial mass media.
What is actually Occupancy Con?
The expression occupancy scam describes a type of financial ripoff that takes place if debtor lays regarding the occupancy position off the home, stating it will be owner-occupied. Relatively prominent, consumers to go occupancy swindle to obtain better rates on the mortgages. That’s because loan providers give lower rates getting manager-filled home as compared to investment features. Borrowers which commit occupancy scam could possibly get deal with really serious courtroom and you can financial consequences. (more…)