Menifee, CA As a Short Sale Specialist, I sometimes run into clients where they are renting their home out while in the midst of a foreclosure. The obvious question is...can I continue to collect rent from my tennants while not paying my mortgage?
Is it legal to do this and are their any liabilities that comes with it?
I always tell my clients that I am not an accountant or attorney and cannot give tax or legal advice. Therefore, I simply cannot answer as to whether or not it is legal. I always recommend that a client in this situation check with their lawyer before making a decision.
I do know for certain that some states have laws forbidding this practice. The laws in some states say you must notify any potential renter whether or not the home is in foreclosure before renting the property out.
If laws have to be put in place, you can bet it has been a real problem. So be sure to check with your state laws and your attorney before making the decision.
Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail: team@sherrykhomes.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 951-315-3201
Sherry K. Kotvis M.S.
Allison James Estates & Homes.
Menifee Short Sales Realtor
WWW.MyForeclosureRepair.com
Providing Solutions One Homeowner A Time
Sherry Kotvis specializes in loan modification assistance and short sales in Menifee California. Menifee Loan Modification Help, Menifee Short Sales. Menifee Short Sale Realtor. Temecula CA Loan Modification Help, Temecula CA Short Sales. Temecula CA Short Sale Realtor. Menifee CA Short Sales. Menifee Realtor.
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