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Can We Move To A Rental Property After 11 Years Of Having Refinanced On A Mortgage?

Home & Contents Insurance Discussion

Can We Move To A Rental Property After 11 Years Of Having Refinanced On A Mortgage?

Postby Weolingtun » Wed Oct 11, 2017 2:28 am

Well we have 11 years in our house and those 11 years since we refinanced ( might be only like two years less than that) . 3 years ago in february we also did a loan modification on our mortgage which is suppose to last 5 years. However my brother has been hanging around the wrong crowd and we desperately need to move (its a really really bad crowd). There are a lot of rental properties out there but it frustrates me because I don't want my mom to get in trouble (shes the homeowner and only her) because all landlords ask for all the adults to be put on the lease.
My question is basically if my mother can get in trouble for leasing a rental property while paying a mortgage out which shes had refinanced and modified? And we would have distant family that would be renting our home. And we live in California. And also what about house insurance, would there be a problem there too? I really need help.
Weolingtun
 
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Joined: Tue Jan 14, 2014 8:10 am

Can We Move To A Rental Property After 11 Years Of Having Refinanced On A Mortgage?

Postby Dervin » Wed Oct 11, 2017 9:07 am

Sounds like getting your brother help is a better option than moving away from the situation.
But of course you can rent an apartment while owning a place - if you can afford to do so, anyway.
But if your brother's involved on the lease, whatever damage is done to the place by him is all renters' responsibility, so watch that.
And leaving him with a house to himself sounds like a bad idea too.
A bit of tough love sounds like the answer here - keep your property, kick the brother out.
Perhaps being forced to take responsibility for his actions will straighten him out.
Dervin
 
Posts: 46
Joined: Sun Apr 06, 2014 5:06 pm


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