James Chen, CMT are an expert buyer, money agent, and you may around the globe industry strategist. They have created instructions to the technical study and foreign exchange written by John Wiley and you can Sons and you will served since the a visitor professional on the CNBC, BloombergTV, Forbes, and you will Reuters certainly almost every other financial mass media.

What is Occupancy Con?

The term occupancy swindle makes reference to a form of home loan ripoff that happens if borrower lays towards occupancy condition off the house or property, stating it might be proprietor-occupied. Seemingly common, borrowers to go occupancy swindle to obtain better rates of interest on their mortgages. This is because loan providers provide lower cost to own holder-occupied house as compared to investment attributes. Individuals whom commit occupancy fraud will get face significant courtroom and economic effects.

Key Takeaways

• Occupancy con was a form of financial swindle that occurs when the new borrower lies, saying property would-be holder-occupied. Weiterlesen