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Posted on 7/7/19 at 8:23 am to retooc
quote:
Not really.
I don't know the specifics. All I know is they named dude an "owner" somehow to get around the can't rent the condo out deal.
Thats pretty creative, does Daddy Coot burn dowm like baby Cooter? That would explain how he dug the worm hole enough to find that loophole.
Posted on 7/7/19 at 11:20 am to retooc
quote:
Not really.
I don't know the specifics. All I know is they named dude an "owner" somehow to get around the can't rent the condo out deal.
They probably quit claimed the tenant onto title, signed the note and security deed, and then had him quitclaim off title.
That qualifies for an owner occupied mortgage with the best underwriting terms/rates, avoids the HOA situation, and removes any risk with the tenant as owner.
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