Expert, localized Los Angeles answers provided by Heather Roy

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Condo not a Primary Residence

  I currently rent my condo in Florida and live rent free in North Carolina. I want to refinance my condo but the mortgage lender said I have to live in my condo to get the loan.The condo in Florida is my only home.What can I do if anything.Thanks
 
  Your main residence in North Carolina is your home, even if you don't own it.  The condo is a rental property.  Mortgage money is getting tighter, particularly for investment property.  Try talking with some mortgage brokers to see if they know anything that would be available to you.
    Edith
Originally published on September 21, 2007
 
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