Can I rent a home to a new tenant while the bank is deciding on a loan modification; if they say no; we will have to short sale?

Asked almost 2 years ago - Mooresville, NC

We are two months behind in the mortgage payments. The house is a rental in North Carolina.

Attorney answers (2)

  1. Fred B. Amos II


    Contributor Level 15

    Answered . Rent the house and pay the mortgage. As long as you own the home, you have every right to rent it. Good luck to you.

    Fred Amos provides legal representation in Wake County, North Carolina. Any answer provided through this... more
  2. Michael Ryan Juarez

    Contributor Level 16


    Lawyer agrees


    Answered . Yes but disclose this information to the tenant and use the rent money to pay the mortgage.

    -Michael R. Juarez Law Office of Juarez and Schaeffer PO Box 16216 San Diego, CA 92105 (619) 804-4327 www.jslaw.... more

Related Topics

Property foreclosure

If you miss too many mortgage payments, your lender can start foreclosure proceedings to take ownership of the property, but it has to follow your state's laws.

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