By William Kugel
Every year I encounter customers who are surprised when they discover the differences in obtaining a loan for their "non-owner occupied" investment property. Perhaps they bought the home when they lived in it themselves, but have since moved out and have rented the property. Maybe it has been several years since they had to deal with financing on one of their rentals. As time has been marching on, the lending environment for these non-owner occupied loans has steadily become stricter in response to a significantly higher rate of defaults.
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