Two Primary Residences?
Last year I bought my first condo. I obtained a standard 30 year mortgage, and I told the bank it would be my primary residence. This year I bought a second condo, again with a standard 30 year mortgage, telling the bank it would be my primary residence. I am now renting my first condo and living in the new one. Am I OK as long as neither of the loans were FHA, or are there potential problems associated with this situation?
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