Posted by Andrew on November 30, 2001 at 13:32:33:
Can I rent this ?
of course you can rent it.
If so, Do I need to inform the lender. If so, what kind of issues can I face ?
none, but you have to make your mortgage payment of course.
Can FHA enforce the owner occupancy ? The owner occupancy only is the “intent” of purchasing property to be your primary residence. If you’ve lived in your property for at least 6 months, have mail delivered to that address, I think you’ve passed the “intent” clause.
Although the question is if you can’t sell it, how do you expect to rent it for a price that will cover your mortgage payments. Because obviously if you are able to rent it, then you would be able to sell it.