is it illegal to collect rent while the mortgage is behind and use the money to pay other bills in Florida?

Asked by Curious, Tampa, FL Wed May 13, 2009

Also is it illegal to renew a lease when you are behind on your mortgage? not in foreclosure but 2 months behind? We are currently waiting on approval for a loan modification so it's very possible that we can get caught up when the tenants are living there.

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Jacqueline, Home Buyer, 10984
Sat Feb 12, 2011
No it is not illegal to collect rent. As long as your house is not in forclosure, you still own it and can do what you want. One thing has nothing to do do with the other.
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Jim Sharp, , 80919
Fri May 15, 2009
Look up "Equity Skimming", each state has different laws regarding this. In Colorado it is illegal for investors to do this. It is for the unscrupulous to have a home owner deed a house over, then the person won't make the payment, but will take rent...

Jim Sharp The Masters Real Estate Group
0 votes
Dallas Texas, Agent, Dallas, TN
Wed May 13, 2009
Confer with attorney however you are governed by lease terms and statues of state of Florida, if you are resolving issues with lender while tenant residing in property many propertiy owners are doing this across the country then move forward tenant is not aware of issues.

If you notify tenant tell them you are working on these issues they could pack up and leave .

However if home does go to foreclosure best notify tenant therefore they can make arrangements

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