Legal Question in Landlord & Tenant Law in California

Re: renting my home

I assume that you purchased the home using "owner-occupied" financing, given that you received 100% financing. As such, if you never itended to occupy the home, and never actually occupied the home, you may have already committed loan fraud. There is no rule that says if you leave it un-rented for some period of time, you are safe - the question is solely at the time you applied for the loan, did you honestly intend to live in the property and occupy it as your primary residence or not. If the answer is no, then you made a misrepresentation to the lender in obtaining the loan, and if they discover it, then they could call the loan due, or pursue the matter further. In all reality, if the loan payments are made timely, the lender may never even know that you never occupied the property. That being said, in today's environment, I'd be concerned that there is a much higher scrutinization of all loans, and it could be picked up in a loan file audit.

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