Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Local Real Estate Networking
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago,

Account Closed
  • Chicago, IL
29
Votes |
88
Posts

Questions on FHA Forgivable Loan

Account Closed
  • Chicago, IL
Posted

So, I got a owner occupancy notice from IHDA today to remind me that I must occupy the property as my principal residence for a period of 5 years. 
If I'll sell or move out of the house, I'll have to pay the amount back.

Question:
Can i rent out the property to someone else ?
Can i sell the house on a lease option/purchase agreement ?

I tried looking for the answer but haven't found clear instructions anywhere.

Loading replies...