James Chen, CMT was a professional individual, financial support adviser, and international field strategist. He’s created instructions to the technical data and you may fx published by John Wiley and you can Sons and you will supported since an invitees specialist to your CNBC, BloombergTV, Forbes, and you may Reuters among most other economic mass media.
What is actually Occupancy Swindle?
The term occupancy fraud identifies a kind of financial con that takes place if the debtor lies in regards to the occupancy updates regarding the house or property, claiming it could be manager-filled. Apparently common, individuals to visit occupancy con discover most readily useful rates of interest on the mortgages. That is because loan providers bring all the way down costs to own holder-filled property compared to the resource properties. Individuals exactly who going occupancy swindle can get face serious courtroom and you may monetary consequences.