August 17th, 2010 10:28 AM by Eric Fang
We just learned from someone who got a letter from the bank that they lender will charge them fraud to finance a property as 2nd home when it is a real rental.
Though the rental rate is higher than 2nd home.We still need to qualify it as rental unlessit's indeed a second home. And even though the homeis occupied by your parents or relative,and if does not meet the defition of the 2ndhome, it's a rental.