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QUESTION: How are home owner association dues figured into my payment?
February 15, 2019
QUESTION: If I buy a new house as a rental, can I use the rent as income?
February 15, 2019

QUESTION: I want to turn my current home into a rental and buy a new home. Can I do that since I purchased it as my residence?

Answer:

If you have held the property for a while, this is not a problem. If you have not held the property very long (less than 6 months) the lender may consider this as a misrepresentation. They could consider calling your note due under the terms of the mortgage or deed of trust.

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