Forecloser/rental home

You are not required to use rent to pay the mortgage, unless you have a provision in your mortgage that says so. You can use the rent to pay your other expenses and let the home go into foreclosure, the choice is yours.

Quite a few people are doing this. If the lender realizes that it is a rental property, they may ask the Court to give them the right to collect and retain the rent against the mortgage debt, but unless and until they do, there is nothing that prevents you from doing so.

Quite a few people are doing this. If the lender realizes that it is a rental property, they may ask the Court to give them the right to collect and retain the rent against the mortgage debt, but unless and until they do, there is nothing that prevents you from doing so.

We have a Florida foreclosure defense practice, and explain a great deal about defending against foreclosure in Florida on our web site, www.golantlaw.com