Getting a Mortgage Using our PMB Address?

[JimK]

15 hours ago, Kirk W said:

I don't know about SD but can assure you that it doesn't in TX and they don't care if you use # or PMB as both are legal. .....

I don't see where this discussion has anything to do with what a State "cares" about.  The issue is using a PMB as an address that might not be acceptable for getting a mortgage.  Even opening a new checking or savings account can be an issue.  When I moved to NY, I rented an apartment while I was looking for a house.  One bank would not accept a $10K bankers check to open a new checking account.  The refusal was firm and I ended up going to another bank to open an account.  I certainly never mentioned that I was planning on moving within a few months.  

Years before when I only had a PMB address, I was able to walk into a Wells Fargo branch and instantly open a new checking account.  Sandsys could certainly be right and what worked in the past may not work now.  My days of full timing are over but I still recommend that others do not use "PDM" as a part of their address.  You never know who might not want to accept a check or even a credit card if you do not have a more permanent appearing address.  

[Randyretired]

19 hours ago, sandsys said:

That's another case of how it used to be. Now that many businesses have access to the postal database that tells them what is at that address they know without you saying so whether it is a business or residence. Oh, there are so many things we can no longer get away with!

Linda

The USPS data base isn't always up to date.  For more than a year our address as assigned by the county indicated that our address was invalid.  We would have to instruct businesses to mail to that address anyhow and we received our mail. At least most of the time.  I called USPS about the problem but they said it will be updated sometime and until then our mail would be delivered.  

[Kirk W]

3 hours ago, JimK said:

I don't see where this discussion has anything to do with what a State "cares" about. 

Mortgage companies, like pretty much all financial institutions are regulated by both the state and the federal government so while that isn't the only issue it can be an issue.  I know of at least 1 former member of this forum who had a mortgage on his RV lots in south TX while using a PMB address. And while it is true that it wasn't yesterday, if those laws have changed there has been nothing published about it and the Escapees do monitor TX laws pretty closely. That said, getting information from an RV forum should never be your only source anyway because very few of us are active members of the legal or financial communities.