Purchased Owner Occupied Home - Can’t Move To It
Teammates, I have a work associate who recently closed on a house that he intends to live in when he moves from overseas back to the US (Florida) in a few months. We're US service members and he's currently restricted from moving because of a stop movement order placed on military members as a result of COVID-19. He should have moved already, but now may not for several months...all the while having to make payments on a house he can't occupy. The house is located in an area that's conducive to short-term rental (which is his long term plan with the house), but he's not able to use it as a shot-term rental while he's restricted from moving into it because he financed it with a VA loan. He's planning to talk to his lender to determine if there are any provisions that will allow him to delay payments until he's able to move (could be months still), but I thought I'd throw the question up here to solicit some ideas for what he can do so he's not paying rent (overseas) and a mortgage (FL house) at the same time. I appreciate any ideas anyone is willing to provide.
Best,
Michael