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Question
I have been living in this home for 12 years. We plan to move to a better school district within a year. We are thinking to refi our current home as our primary residence and finance our future home as primary residence as well. Am I violating any law?
ken
You probably would be with the tax assessors declarations of homestead. I wouldn't be able to say yes or no for sure without looking at the mortgage and note documents and any closing affidavits. It may not be illegal but it could be unethical. Probably not what you want to hear. Just read your documents and your personal declarations carefully during or before your closings and you will know what to do.
Good Luck,
Chris Baker
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Christopher A. Baker
Expertise
Section 8 Appraisal and Rent Comparability Expert Owner of Title Insurance Company Owner of a Commercial Real Estate Appraisal, Sales, Leasing, and Management company. Equipment and Business Valuation Minerals Baker Valuation, inc. Birmingham, Alabama
Experience
I am the rent increase/rent comparability study reviewer for Contract Administration in the Following States: Alabama, Mississippi, Connecticut, and Virginia
Organizations
Designated member of the following: CCIM, MAI - SRA/Appraisal Insititute, MRICS - Royal Institution of Chartered Surveyors, CEA -AMEA
Education/Credentials
BA, MAI, CCIM, SRA, MRICS, CEA
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