is a lease valid on a house not mortgaged as rental property with landlord’s lender?
My room mate and i rent a house and we found out that the house isn’t mortgaged as rental property, it’s just listed as our LL being the primary dweller of the residence. From what I’ve gathered by different sites and info, is that a person with a mortgage has to go to their lender and get a consent to lease before they can rent out their house? if this is correct is the lease we signed even legally binding?
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Tags: House Rental, Rent A House, Rent House
lease property | , 4 Feb 10
By Craig T, February 7, 2010 @ 1:35 am
YES, it is binding on you
By Baby #1 on 12/10/08, February 10, 2010 @ 12:07 am
Yes. Your agreement has nothing to do with the agreement between him and the bank. I’m curious, how exactly did you obtain information about his mortgage?
By sassy25, February 13, 2010 @ 8:15 am
The lease is a legal binding contract between you and your landlord. His mortgage is none of your concern. Be very careful what you say to landlord or he will evict you. With an eviction on your credit report you are screwed for the next 7 years.