Posted By: Many Hats
Multifamily or Not? - 02/27/13 06:32 PM
Loan was done on a group of condominiums that are being rented. The original purpose was to take these condominiums - rent them out while the market is down and try to sell them later on when the market comes back around. BUT, right now 90% of the units taken as collateral are being rented out. On the mortgage, each unit is listed separately.
Reported as a multifamily or as a 1-4 family?
Reported as a multifamily or as a 1-4 family?