- Unbeknownst to most borrowers, listing a property on Airbnb may be in violation of their mortgage terms.
- FNMA conventional terms state that the underwritten mortgage must be the borrowers principal residence.
- If a lender determines that regular use as a rental hurts property value, it has the right to demand immediate repayment of outstanding mortgage balance.
Airbnb May Bring Unforeseen Consequences to Borrowers
(08/10/2016)
