I have a property that I am renting & am having hard time finding a renter. I just recently moved into a new home, while waiting for a renter. If the bank forelcoses on the house I am now trying to rent, can anything be done to me new home?? I live in Ohio, if that makes a difference.
2007-11-20 03:44:26 · 2 answers · asked by *the*weAve* 1 in Business & Finance ➔ Renting & Real Estate
If you are that concerned about losing your primary residence, contact the mortage lender first and see what the consequences are. Usually if they have information about your situation they are more compassionate.
However, if it will affect your primary residence and you are that concerned, find an investor and just dump the property even if you will suffer a small loss.
Or else, see what you can afford and offer someone 6 months of really dirt cheap rent. There's always a sweet spot that will get them to line up to take the place.
2007-11-20 03:49:56 · answer #1 · answered by tapnet1 3 · 0⤊ 0⤋
you will end up with a lien on your home, which does make it hard to sell if you need or want to
2007-11-20 20:04:52 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋