Posted on: 11th Jan, 2011 06:23 am
Heres the deal
MY home has lost value as most have... I owe about what it appraises for..
We have out grown this home and want something bigger, I know that selling this home is not going to happen anytime soon.
There is a house on contract not too far from me and it is the right fit for us..
SO my question is am I able to sell my house on contract or even rent it out even though I owe a morgage..
Yes I can afford the home IM in but ready to move on..I havent contacted the Morgage as I dont want to throw up any red flags..
MY home has lost value as most have... I owe about what it appraises for..
We have out grown this home and want something bigger, I know that selling this home is not going to happen anytime soon.
There is a house on contract not too far from me and it is the right fit for us..
SO my question is am I able to sell my house on contract or even rent it out even though I owe a morgage..
Yes I can afford the home IM in but ready to move on..I havent contacted the Morgage as I dont want to throw up any red flags..
Hi ddkpiping,
You can rent the property to someone else but you'll have to make regular payments to the mortgage lender. If you sell off the property, then the lender will want you to pay off the dues in full.
You can rent the property to someone else but you'll have to make regular payments to the mortgage lender. If you sell off the property, then the lender will want you to pay off the dues in full.