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Updated almost 8 years ago,

User Stats

34
Posts
7
Votes
Lance Knapp
  • Commercial Real Estate Analyst
  • Los Angeles, CA
7
Votes |
34
Posts

Renting Out Primary Residence

Lance Knapp
  • Commercial Real Estate Analyst
  • Los Angeles, CA
Posted

Two months ago, I closed on a triplex using a 20% down conventional home mortgage. I had intended to live there, but I came to realize that my commute to work wasn't feasible. Also, the perfect alternative living situation arose, so I moved. I now am in breach of my agreement to live at the property for one year. I am unable to leave my unit of the investment property vacant, so I need to rent it out. So far, the lender has not checked if I am living at the property or not (it has only been two months). Does anyone have experience with this type of situation?

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