I have a rental house I still owe 54,000 on. The renters (sister) moved out. I sign my final papers for my new house the end of may.

Asked by lady_leppard, Warren, MI Sat Apr 27, 2013

What can I do. I can't afford both houses and if the bank finds out our renters are gone I will lose my house. My husband and I agree that the renter house isn't for us. It is a fixer upper and that's not either of us. I am getting tired of renting the place out because this is the second renter who left us high and dry.

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Becky Drob’s answer
Becky Drob, Agent, Shelby, MI
Sat Apr 27, 2013
I would love to get together and talk with you about your options. Prices have come up and depending on everything you may be able to sell without bringing money to the table. Also, after you purchase you home you could try to do a short sale. Please give me a call.
Becky Drob
Real Estate One
0 votes
lsmyth_2007@…, Renter, Warren, MI
Sat Jun 22, 2013
this goes to lady_leppard i like to know is your home still available for rent i been homeless for 2 years my husband works at 15 mound area. every time we think we got a nice home something. o.k the last house we was in the owner past away and we did fine out till we been there all most a year. and then we stop paying rent and he got real mad. then he try to take us to court and i told the judge and he told him he had to pay us back all the money back. and the house was boarded up and a sign was put on the door.know we are living with a lady that is squarter we just found out today. we called the police and they told us we should move because if they come here they will put our stuff to the street and anyone can get it. so i hope your home is still open to rent. if so please call me at 586/335/5239 and ask for lisa love to see your home and rent it out..thank you lisa and thomas
0 votes
Felicia John…, Home Buyer, Detroit, MI
Wed Jun 19, 2013
why do the tenants leave, what is wrong with this property? F. Johnson Detroit,MI
0 votes
Sigrid Garri…, Agent, Rochester, MI
Tue May 28, 2013
Lady leppard,

I would like to help you out. I would need to assess the property & either get it sold or find you new renters & educate you on finding the right tenants & the lease process. You don't want to loose your new home do you?

Wish you the best,

Sigrid Garrick
Keller Williams
cell 586-322-7165
0 votes
Melissa Pric…, Renter, Warren, MI
Mon May 27, 2013
Just curious as to if you have found an option for this house yet. If it is still available, I would love to chat with you, as a renter. I plan on renting a house for at least the next 3 yrs. You can email me at mlp7577@gmail.com. Thanks. No pressure.
0 votes
Ron Ristovski, Both Buyer And Seller, Troy, MI
Sat Apr 27, 2013

If there is equity in the home you can sell. We can purchase for cash and close quickly.

You can also gets renters in place if that is what you wanted to do.

Good luck.
0 votes
Karen Paytas, Agent, Clinton Twp, MI
Sat Apr 27, 2013
Good Morning!

As a Realtor we are not allowed to give legal advice. You would need to contact an attorney for any legal advice.

However, in my opinion:

I'm surprised you qualified for a new mortgage while owning a rental home unless you qualify with owing both mortgages. Most lenders won't take into consideration the rent being paid on the rental home for this exact reason. If you can't afford both mortgages you need to get another renter in there immediately. If you are not able to you'll have to disclose to the lender doing your loan on the new house that you no longer have that income. Otherwise, it's mortgage fraud. You'll be asked to sign documents at closing on the new house verifying that nothing has changed financially.

Good Luck,

Karen Paytas, GRI, CMS
Real Living Kee Realty
0 votes
Sigrid Garri…, Agent, Rochester, MI
Sat Apr 27, 2013
lady leppard,

It may cause you a problem with your new home purchase. If you can't afford both places & your new mortgage company finds out that it isn't being rented, they may not give you your new mortgage.

I can help finding new renters. I have done alot of lease lisitngs. Total commision for that is the first month lease.

I wish you well

Sigrid Garrick
Keller Williams
0 votes
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