Warning: Illegal string offset 'html' in /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php on line 909

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 114

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 127

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 136

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 137

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 141
Rules for rental of FHA mortgage - LoanUniverse Community

Jump to content


Rules for rental of FHA mortgage


1 reply to this topic

#1 jroswald

    Summer Intern

  • Members
  • 1 posts

Posted 08 November 2004 - 09:15 PM

I have recently taken a job that provides(requires) housing on grounds. My mortgage of my current home is an FHA loan and I would like to rent the property rather than sell it. Can I rent the property and can I still take advantage of Homestead tax breaks if this is the only property I own?

#2 loanuniverse

    Administrator

  • Admin
  • PipPipPipPipPipPipPip
  • 1,251 posts
  • Gender:Male

Posted 08 November 2004 - 10:35 PM

Renting of the property is subject to any occupancy clause that might have been in the loan. It is my belief that the homestead exception laws require that you use the residence as your primary residence, so you will probably lose that. Of course, it depends on the state.

- You need to review your loan documents.
- You need to ask a local attorney {I am not one}.

Good luck





1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users