I am renting out my condo because our building has turned "rental" on us. The many shortsales and

Asked by Thomas Q., Miami Beach, FL Fri May 15, 2009

50% foreclosures are not selling. Last we sold was 2008. So, i am moving out and getting a tenant.
Do i have to tell the lender that the property is now considered an investment? I am behind 4 month.
At least i can pay some back this way even though it is late. Do i have to cancel my homestead now
and pay much more proptax next year or can i waive it all for a while?

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