 Going to view a house tomorrow bit of advice? |
| We have been renting a flat since last May. It was fine through the summer, but since winter has come we have found it to be very draughty and cold. We are wanting to get a mortgage on a house ... |
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 Does my landlady have the right to sell the house when we are only 3mnths into a 6mnth tenency? |
i have 2 small children and we have just moved into a rented house 3mnths ago, the landlady said she was not looking to sell in the near future and we signed a 6mnth tenency agreement.
a few ... |
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 The house i'm renting is in foreclosure if I stop paying rent can I appeal a eviction if he files one.florida? |
| I feel as a renter if the owner is not trying to resolve the debt owed he knowingly is breaking the rental agreement between us not allowing my family and self to stay for the duration of ... |
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 Less than 30 day notice - tenant? |
I live in MA. Tenant agreement states 30 day written notice (min). I received an e-mail on the 5th instead of the 1st of Jan '09. Are they responsible for Jan & Feb?
Additional D... |
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 Do They Have The Right to Raise my Rent? |
| I'm from CA and have been living in a Townhouse since last July. During my first year, the complex that I stay in has changed ownership. Yesterday, I got a letter from the manager saying that ... |
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 I would like to start buying houses to rehab & sell or rent.? |
| What is the best way to get started doing this with less than perfect credit?... |
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 Rent A Center a viable option? |
| I have sub par credit (still a work in progress) but really need new bedroom furniture. I know RAC doesn't exactly give you a great deal, but what is a guy to do if he doesn't have several ... |
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 I have lost my house deeds where can i get them from so i can sell my house? |
| iv had my house 37 years now i want to sell but cant find my title deeds can i get some ... |
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 I have a prospective tenant who is claiming benefits, is this a potential problem for me? |
| I´m a UK landlord looking for a tenant, one interested chap says he is claiming benefits but can provide good references. Is this a bad situation and I should avoid him? or is he just the same as ... |
|
 We are in the process of looking for a house to buy. We have found? |
| 2 homes we really like. My question is, what would you do. The 1st home is in one of teh best areas in town but really ugly and the 2nd home is in a moderatly good area but very pretty. How do you ... |
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 Is it discrimination ....? |
| Is this discrimination???? I know someone who recently became a landlord, but refuses to rent to friends or relatives even though they have excellent credit and previous rental references. (never ... |
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 Is this house payment a good one? |
| We are under a contract for a house we just bought... well almost, our settlement date is the 26th of September. We are getting all the inspections done. We bought the house for $78,000 with $4,000 ... |
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 UK landlord question?? |
Our landlord has "served notice". He wants us evicted.
The letting agent came round to do a three month house inspetion. She said there was no problem with condition of house. L... |
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 What is negotiable after a sale price has been agreed upon? |
| Both parties have agreed to the inital sale price. A home inspection has occurred. The buyer is now asking for an additional reduction in the price.... |
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 How much do you pay for rent? |
| what type of establishment is it (apt, condo, house, etc) & in what town? Do you think it's a deal or a rip off? Just curious! I live in a 1-bedroom apt in milwaukee-area wisconsin & ... |
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 What would you do if you were a landlord and you found out one of your tenants was...? |
...sticking her rent checks between her buttocks before handing them in to you?
Is this a form of sexual harassment?... |
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 Apartment rentals: Expensiveness of Housings? |
| I don't like the fact that all the apartments and houses cost very much for minimum wage people. Can you ask a house builder to build a hut or shack so that you can actually afford it? As long ... |
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 Whats an acceptable comission to pay a realestate agent? |
Hi,
I am negotiating the commission that the agent receives when he sells my house. He is asking for 3% but Im sure I can negotiate a better deal than this. To anyone that has sold their ... |
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ericfrompa | Can a mortgage company prevent me from leasing my house after I've lived there for 3 years? |
It was my primary residence for over 3 years. Does anyone know anything about this? Does it always have to be owner occupied? Thank you! |
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novastarbanker
 |
Owner Occupied is what they verified when you were closing on the home. Now, you have the right to do whatever you want as long as you continue to pay the mortgage. If the event arises that you need to finance the property after you have legally leased it out, then you have to get an non owner occupied mortgage which will have a higher interest rate. The banks do not certify that you are living there after you have closed on the first loan. |
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newmexicorealestateforms
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It depends on the language of your mortgage referencing the call feature and how the lender states they would have the right to call the loan if they felt their position on the mortgage was jeopardized. |
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John Corey
|
Look at the loan documents.
On a practical level there is not specific time limit. You filled in a loan application stating what you intended to do. You can not be expected to predict the next 30 years of your life. People move for all kinds of valid reasons. Hence lenders do not mind if you rent the place after living in it. 3 years is more than enough.
If you are trying to put the property on a multi-year lease as a way to effect a sale they might care. More so if you stop making the payments.
If you continue to pay on time the lender will be completely fine with knowing that you are now renting the place. |
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J - A
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It really depends on what lender and the terms and conditions defined in the note. |
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☼evolvedkw☼
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Your mortgage company couldn't have said anything after a week. Its nothing to do with them and you are not required to inform them. All they care about is the mortgage payment. (from experience of leasing my home) |
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Skip
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Mortgage companies could care less who is living in a house as long as the mortgage is paid on time?
Properties are purchased all the time where the original borrower moves into a house as a primary residence. After awhile they then purchase another home, turning the old one into a rental.
Now when it come to refinancing the old house it has to be done as a non-owner, since he has moved to another house and now is his primary residence.
I hope this has been of some use to you, good luck.
"FIGHT ON" |
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Seano
 |
If they can you would have signed something saying so. Many first time buyer loan programs will have this kind of clause. These loans were designed to allow ownership for people who couldn't qualify traditionally and they wanted to make sure that investors wouldn't use the program. Furthermore some cities have redevelopment zones that offer "affordable housing programs" and under these programs there are restrictions on renting your home. But whatever the situation you would have been required to sign something that would have stated the restrictions. |
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Akbar B
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Check your mortgage documents, normally that clause is not included but check with customer service and they will let you know. Good luck. |
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KConsults
 |
Most of the time when there is a restriction from the mortgage company, it is for a period of one year only. Mostly these types of restrictions have to do with INTENT, usually via an occupancy affidavit you signed when you bought it. If your circumstances changed, even before the year was up, not much you can do about that.
If you can't find your documents, you may want to check with your loan agent or simply call your lender.
I cannot imagine that there would be a requirement for more than one year, so I wouldn't worry too much about it.
Talk to your tax adviser regarding the tax benefits of turning your primary residence into a rental property! You'll probably be very pleased with his/her comments and advice.
Hope this helps! |
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