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Updated about 7 years ago on . Most recent reply

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Joseph Lynch III
  • Iowa City, IA
0
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6
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Forced to rent my first home

Joseph Lynch III
  • Iowa City, IA
Posted

I literally just found this site two days ago. I moved to a city for a job and bought my first house with my wife. Within 6 months, we were forced to move because of my job. Not being able to sell without taking a huge loss, we started renting it. I'm now wondering if I did something wrong after reading some posts here because although we bought the property with the intention of living in it, and did so for 6 months, we are renting it before the 1 year rule. I changed my insurance, but I don't know if I ever did anything with the mortgage company. Should I notify them of the change? How should I go about it? 

Most Popular Reply

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5,116
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Kyle J.
  • Rental Property Investor
  • Northern, CA
5,171
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Kyle J.
  • Rental Property Investor
  • Northern, CA
Replied

You didn’t do anything wrong and there’s no need to notify your mortgage company. You intended to occupy the house when you got the mortgage, you did occupy the house, and then unforeseen circumstances resulted in you moving. Don’t worry about it at this point. 

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