I’m not talking about a vacation home. I’m talking about a primary residence. If someone is planning on throwing the keys back to the lender and attempts to buy another home in the same general market, the lender isn’t going to believe that it’s a vacation home. They would buy off on the idea of it being a rental but then they’re going to want to see a substantial down payment and a full-doc loan now that liar loans are out the window.

Any mortgage pros want to get in on this and correct me if I’m wrong?