re: Renting out property without mortgage holder's consent

Because you keep asking the same questions after they've been answered. Change your insurance and keep making your payment, Wells Fargo isn't going to do anything as long as the payments are made. They have to deny your request in a CYA way for a myriad of reasons, mostly due to liability if they sell the servicing rights and the loan defaults after that date - if they told you it was ok to rent, but sold the loan as owner occupied, they would be forced to buy the loan back. You're thinking way too much about this. As for the lease-purchase, usually not a great idea for a couple reasons. One, the transaction would be very complicated unless you pay off Wells first. Two, the insurance scenario gets complicated if you don't pay off Wells, which it doesn't sound like you can do. Just rent it, if they get to a point where they can qualify for mortgage, great, sell it to them. Otherwise, just rent.