His wife bought the house and rent it back to him.
Some kind of mortgage tax loan fraud shenanigan going on here
Funny you should mentioned mortgage fraud, that’s why I said you don’t own a home. Lenders take one look at your spotty work records and DENIED or CANCELED.
yeah
this would be mortgage fraud
buying a house for someone because their credit score is bad
and then them playing you RENT LMAO at $400k property tax
i thought you guys own a home
https://en.wikipedia.org/wiki/Mortgage_fraud
Occupancy fraud: This occurs where the borrower wishes to obtain a mortgage to acquire an investment property, but states on the loan application that the borrower will occupy the property as the primary residence or as a second home. If undetected, the borrower typically obtains a lower interest rate than was warranted. Because lenders typically charge a higher interest rate for non-owner-occupied properties, which historically have higher delinquency rates, the lender receives insufficient return on capital and is over-exposed to loss relative to what was expected in the transaction. In addition, lenders allow larger loans on owner-occupied homes compared to loans for investment properties. When occupancy fraud occurs, it is likely that taxes on gains are not paid, resulting in additional fraud. It is considered fraud because the borrower has materially misrepresented the risk to the lender to obtain more favorable loan terms.