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Is it illegal to rent a room in CA if the owner has a reverse mortgage?
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If you do a reverse mortgage CAN you rent out your home?
No, you must keep the home as your primary residence, renting out the home is a violation of the mortgage agreement and could result in the mortgage note being called due.
Is it ok to charge a tenant rent when you as a homeowner stop paying your mortgage?
Until a foreclosure sale takes place, the owner is entitled to rent payments. His relationship with the bank has nothing to do with the tenants.
Can homeover's association make your tenant pay rent to them?
I'm no lawyer but... I expect the answer is no, not unless the owner agreed to this in writing. It is common in mortgage contracts to have wording that says the tenants pay rent to the landlord as long as the mortgage payments are on time but as soon as the owner gets behind in payments, the bank can tell the tenant to pay the rent directly to them. So if, for some reason, the owner signed a deal like that with the HOA, then this could happen. Without something in writing, the HOA shouldn't be asking for this.
How to get a mortgage loan with bad credit and good income now?
Find a rent to buy or one where the owner will carry the paper or a co signer.
Can you write off mortgage interest if you rent?
I'm not trying to be difficult, but I don't understand how you HAVE mortgage interest if you rent. You carry a mortgage on your rented home?
When you have a reverse mortgage who is the homeowner?
The borrower on the home remains the homeowner, the reverse mortgage lender will have a lien against the property, just like other mortgages. Your home ownership rights remain the same as before with one exception, that you cannot rent out the home and must keep it as your primary residence. if you move you need to sell the home or refinance it to a forward conventional mortgage or you could be in default of the mortgage agreement.
Do you have to pay property tax if you rent a house?
Not directly. The owner of the property is responsible for paying the property taxes. However, you should understand that how much rent you pay is determined, in part, by how much property tax the owner pays. In other words, the owner needs to charge enough rent to cover his costs (taxes, maintenance, insurance, mortgage payments, etc.). Otherwise, he is losing money on the property.
Do you have to pay your rent to owner who is inforeclosure?
Until the foreclosure sale takes place, the rent is owed to the owner on the rent day.
What was the average rent or mortgage in 2010?
£1
Can you rent to an illegal?
No
What are the benefits of using a rent to buy purchase plan?
Using a rent to buy purchase plan is beneficial if you do not have a large down payment to purchase a home. Typically, the owner of the home holds the mortgage and one would make monthly payments to them.
What is the monthly cost for rent or mortgage?
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