Answer:
If the son owns the home and does not live in it, it is non-owner occupied.
First published on BankersOnline.com 11/08/10
Son Pledges Collateral for Borrower Parents
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Question:
If the borrower does not own or occupy the property, is the property considered to be owner-occupied or non-owner-occupied? The son owns the property, and has pledged it as collateral for his parents.
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