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A comment on Dear Bureaucrat, my job wants me to lie. Parent comment

Re:Dear Bureaucrat, my job wants me to lie by mehrdadn on Thursday June 13, 2019 @02:57PM (#20177652)
> I bought a house, one thing said I had to move in within 30 days, another 60 days, and another 15 days.

Confused... if you're buying the house why can't you just move in when/if you feel like it? Is this a mortgage/legal thing about it being your primary residence?

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Re:Dear Bureaucrat, my job wants me to lie by schreiaj on Thursday June 13, 2019 @03:13PM (#20177765)
Yes, the terms of the loan were for a primary residence thus they expected me to actually live there. If I recall it also stipulated it had to be my primary residence for some amount of time.

Basically, they wanted to make sure I wasn't getting the mortgage to buy a commercial property since that would have had different terms associated with it.

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Re:Dear Bureaucrat, my job wants me to lie by mehrdadn on Thursday June 13, 2019 @03:26PM (#20177854)
Ah cool, thanks!
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Re:Dear Bureaucrat, my job wants me to lie by kgermino on Thursday June 13, 2019 @03:11PM (#20177759)
Yep. It’s tied to U.S. housing subsidies. Basically the Federal Government wants people to own their own home so they subsidize home loans. But to help prevent people from using the subsidies for 2 houses or rental properties they require you to move in within a limited timeframe.
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Re:Dear Bureaucrat, my job wants me to lie by johnnyo on Thursday June 13, 2019 @03:20PM (#20177809)
It’s likely an owner-occupied mortgage rate. Mortgage rates are lower for properties you live in vs ones you want to rent out (seen as higher risk).
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