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Real Estate
Reply to "Possible to rent home "under the table"?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Your mortgage holder may not approve. Our neighbor tried to rent out his house and the mortgage company said no. He ended up selling.[/quote] [b] Really?! I've never heard of this. Under what legal authority do they do this? I don't remember ever signing any language to this effect in either of my closings[/b].[/quote] It's standard in all the Virginia closings I've had. [/quote] Maybe? I've never lived in VA, but DC, MD and NC and have never seen this.[/quote] Live in DC. My mortgage documents say I cannot legally transfer the mortgage from myself to another person on a term basis. If I do my entire mortgage becomes due. So maybe the neighbor tried to transfer the paperwork of his mortgage to his rentee? Otherwise why would the mortgage company even be in involved? Unless the guy was going into foreclosure or a short sale of somekind. [/quote]
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