"Oh Crap, I Did It!" Mortgage Fraud Panic?
Summary
If a short-term rental host realizes they might have committed mortgage fraud, the first step is to take a deep breath and consult with a lawyer in their market. Work with the attorney to come up with a plan to address the situation and understand the potential financial corrections needed, including getting a refinance or talking with the lender about the loan’s status.
More from Regulations & Compliance
Carson City, Nevada, is refining its short-term rental regulations. City supervisors are currently reviewing and modifying the local ordinance during a retreat. This review aims to address operational aspects, potentially impacting local hosts through new or revised rules, emphasizing compliance.
A 21-unit vacation rental in Dunedin, Florida, has been approved, signaling potential growth in the local short-term rental market. This approval could lead to increased accommodation options for tourists visiting the area. This news could also influence local regulations.
St. Louis aldermen have approved a short-term rental fee, though a legal battle over existing rules continues. This indicates a focus on regulating the STR market within the city. Hosts in St. Louis should be aware of these new fees, which may impact their profitability. Find out how this affects your STR business.
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