Borrower Lying About Occupancy Status

[Pamela Crowley (Florida)]

I'm definitely backing Roger on that one. That comment was uncalled for.
I don't always agree with Roger, but after all these years here, I do consider him one of the good guys.

 

[JSmith43]

I'm definitely backing Roger on that one. That comment was uncalled for.
I don't always agree with Roger, but after all these years here, I do consider him one of the good guys.

Thanks, Pam.

I assume Andrew was just giving me a poke in the ribs, but other readers might get the wrong impression, so I had to speak up. I appreciate the highly credible back-up

 

[hastalavista]

As I was reading this, our office received a call I heard in the background.

We were trying to set an appointment on a 1+ acre property; called the borrower and he said we'd have to schedule with the tenant. Call the tenant and he said we'd have to schedule with a sub-tenant.

We call client and ask if they need a rent schedule; client says it has to be owner occupied. We tell them what just happen, they tell us to hold off.

The call that just came in was a cancellation; the client said they found another appraiser.

And the beat goes on!

 

[Pamela Crowley (Florida)]

Denis, that address and what just happened belongs on the www.MortgageFraudWatchList.org!!!!!

 

[Carnivore]

Thanks, Pam.

I assume Andrew was just giving me a poke in the ribs, but other readers might get the wrong impression, so I had to speak up. I appreciate the highly credible back-up

Yes, Roger, just a poke, your the closest target. I did not mean to impune your very good reputation at this forum.

ftr, your my favorite anarchist!

 

[Gregory Beck]

How about a fire in the house

One of the things I don't see mentioned here is if the house had a fire and someone died now what happens?

Here is what happens everyone gets sued including the appraiser plus possible
jail time.

So the bottom line answer is report to lender the TRUTH do not jeopardize your license or yourself for anyone. I guarantee you lie for a lender and the above happens the lender will swear on a stack of bibles that you lied not him.

 

[Kathy in FL]

OK, maybe perhaps it's a southern women's skill, but if the girl's daddy was meeting me there at the house and told me that his daughter was living there in that house with six soccer-playing, single, non-English speaking guys, I'd think that an "OH. REALLLYYY?" coupled with a look that says, GEE your daughter is a total skank, isn't she? would have made that daddy start back peddling off of his story.


Maybe it's just a middle-aged caucasian woman appraiser thing, but danged if I wouldn't ask her how she got THAT deal going. I've always dreamed of retiring with a hot, muscular soccer-playing pool boy....but a HOUSEFUL of 'em. Now THAT'S a fantasy.

 

[Darryl Evey]

I've always dreamed of retiring with a hot, muscular soccer-playing pool boy....but a HOUSEFUL of 'em. Now THAT'S a fantasy.

I have a friend who recently retired. She has lived in the same 6 bedroom house for 30 years. Her kids are all gone and she is a widow. She decided to downsize until the local minor league baseball team found her. She now has 5 young baseball players living with her 8 months out of the year. She makes a little money, has season tickets to the games and goes to all of the club parties.

She is enjoying her golden years.

 

[JSmith43]

I have a friend who recently retired. She has lived in the same 6 bedroom house for 30 years. Her kids are all gone and she is a widow. She decided to downsize until the local minor league baseball team found her. She now has 5 young baseball players living with her 8 months out of the year. She makes a little money, has season tickets to the games and goes to all of the club parties.

She is enjoying her golden years.

Any of you doing appraisals for reverse mortgages (FHA HECM), your comments may be crucial, so try and get it right. By all means, don't guess based upon skimpy evidence. It is such a PITA to take back words, such as calling one's spouse over weight, etc Non OO are hard words to take back.

Reverse Mortgage candidates just have to have the place as their primary residence. They can be gone for up to a year (nursing home to recuperate, etc.) and can be snow birds as well

 

[Darryl Evey]

It is such a PITA to take back words, such as calling one's spouse over weight, etc

Which may explain why I am single.