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re: Renting out property without mortgage holder's consent
Posted on 6/27/14 at 2:24 pm to Fearthehat0307
Posted on 6/27/14 at 2:24 pm to Fearthehat0307
shite, I wasn't even aware the mortgage holder could keep you from renting. Well, "could" is a wrong word, I just didn't think it was prevalent. Sort of like how I've never run into a loan that had a prepayment penalty.
Going to have to look into that.
Going to have to look into that.
This post was edited on 6/27/14 at 2:26 pm
1
Posted on 6/28/14 at 9:30 am to Teddy Ruxpin
quote:
shite, I wasn't even aware the mortgage holder could keep you from renting. Well, "could" is a wrong word, I just didn't think it was prevalent. Sort of like how I've never run into a loan that had a prepayment penalty.
Failing to use and occupy the property as a residence is almost always an act of default under residential mortgages. Most mortgage companies honestly don't care as long as they are getting paid. Especially the large services. /not legal advice./
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