Posted on: 13th Aug, 2013 12:24 am
I have two homes and both of them have mortgages on it. I cannot afford both of them and situation is such that I cannot sell even. What will happen if I rent one of the properties without informing the lender?
Renting your property without informing the lender may be illegal. Moreover, if the lender comes to know about it, he can demand the loan in full immediately.
Hi Boore,
Niicss is right in saying so. As you are facing problems in paying off the mortgage for one of your properties, you should contact your lender and check out if he can provide you with any kind of solution in this regard.
Thanks
Niicss is right in saying so. As you are facing problems in paying off the mortgage for one of your properties, you should contact your lender and check out if he can provide you with any kind of solution in this regard.
Thanks