We've moved out of state for my husbands job and our home, which was included in the BK and we are surrendering, is sitting vacant. Chase is really dragging their feet in taking possession. It could take years from what I'm reading. My question is, can we rent out the house on a month to month basis if we let the tenant know the situation and that once the bank takes over, they may have to leave? Is it smarter to rent it out or let it sit? Thanks!
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Yes, you can rent it (and as you have indicated, so long as you give the tenants full information on the situation). -
It would be pretty smart to rent it out. Until the bank officially takes the house back you are supposed to keep it insured. If it's vacant it is difficult to insure.Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.Comment
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Great! Now, how do I go about getting a tenant who's willing to rent under those circumstances?Comment
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you rent at half the market rate. Otherwise no one is going to be willing to deal the with the uncertain rent time.Comment
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