Reply to New House Query

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[quote=Anonymous][quote=Anonymous]Why didn't your sister buy the 2nd house and tell the mortgage company it would be a rental/investment property?? At least it would be clean and legal.
Sure, the loan may be at a slightly higher rate, but she could roll-over the higher monthly payment to her friend when said friend goes to pay her rental fee.

[/quote]

I am guessing because the Sister was trying to commit fraud to the bank, by receiving a lower mortgage rate.

She was probably banking (no pun intended) on the fact that her friend would be so grateful for being able to rent a home to do daycare that she would feel indebted to the Sister forever and remain in the house for EVER! 
Then the Sister would ultimately have the best of both worlds: a free house since the friend would be paying the mortgage from the jump, ETC.
Meanwhile the friend would be conveniently paying her mortgage since day one.

This was really not a true favor extended to a friend in need.
It was actually a scam to get a free house.[/quote]

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