What documentation should be used to document the 60-day physical requirement to occupy the property after closing?
The HECM security instrument requires the HECM mortgagor to establish a legitimate principal residence in the home. Lenders are encouraged to ensure the HECM mortgagor lives in the home prior to submitting the case binder for endorsement. Lenders may, but are not required to, obtain a letter from the HECM mortgagor stating he/she lives in the home.
Related Questions
- Scientific Notebooks Q. Can Scientific Notebooks be used to document "numerical experiments", as they can be used to document physical experiments?
- What documentation should be used to document the 60-day physical requirement to occupy the property after closing?
- Is the title to my property a physical, legal document that proves ownership of real estate?
