I am haveing trouble paying my mortgate so can I rent it out?

Question

I just bought a town house and I thought I was going to have someone living with me and things have changed. If I don't do something I will lose the house already. Can I rent it out on my own or should I get a realtor to help me? I have a place to stay that is cheap and I know I can rent it for more that my mortgage is.

Answer 1

Yes, you can rent the townhouse out. Hopefully, if you keep making the payments no one will ask or care whether or not you are still living there. If your plans have changed since you bought the place, then no one can accuse you of fraud or anything.

It will cost you to use a realtor, but if time is of the essence then you may be better off using one and paying the fee.

Answer 2

OF course you can do that.

Keep in mind that if you can do it on your

own, you won't owe any RE service

fees but by the same token, if the

tenant stops paying, ouch.

YOUR solution is what i have suggested

to people for 3 yrs--bravo!

available to guide further

Answer 3

You need to check out the terms of your mortgage.  Some say you have to owner occupy for 1 year.