quote:
My experience has been, as long as the loan gets paid, the bank generally does not care. Yeah, their lawyers have to do their mumbo jumbo, but considering how many foreclosures they are still dealing with... they are not going to foreclose a mortgage that is paying promptly.

so you feel renting without consent is unlikely to cause me harm?

eta: we are discussing doing a lease purchase agreement. would that change anything as far as going without consent and being found out? I called them and they said I couldn't do lease purchase either

This post was edited on 6/27/14 at 2:51 pm

2 ...

Report Post

Posted by eng08

Member since Jan 2013

5997 posts

Posted on 6/27/14 at 3:00 pm to Fearthehat0307

You could do a down payment with a lease and an agreed upon price. Then require them to get real financing and actually buy by a certain time period.

I have heard some stories told on here about people doing this knowing the Tennant will never get financing, once the date comes they don't have financing, they evict and keep the deposit.

0 ...

Report Post

Posted by LSUFanHouston

NOLA

Member since Jul 2009

37174 posts

Posted on 6/27/14 at 3:00 pm to Fearthehat0307

quote:
so you feel renting without consent is unlikely to cause me harm?

Define "cause me harm". I can't predict what WF or any other bank will do.

Now, a Lease Purchase Agreement is a whole another ballgame. Banks do not like those. They also don't bond for deeds, or any wrap financing. But again, as long as the loan is getting paid... are they really going to call the loan?

While many of us are willing to offer advice, you are reaching the territory where I would reccomend engaging a real estate attorney.

2 ...

Report Post

Money Talk - Replies to Post

Return To Board

Page 1

Return To Board