For those who are renting homes

[All_is_well]

This is for those who are renting there homes..

e roju ma community lo pedda racha ayindhi.. ma community lo okathanu rent ki icchadu tenant ki, with out notifying HOA. HOA vallu evict cheysaru tenant ni, cops vacharu, tenant gadu landlord ni sue cheystha anatunadu for inconvenience and damages. If you are trying to rent your house on market make sure you learn about HOA rules. 

[Thokkalee]

Desis rarely rent single family homes.. unless they are transitioning… HOA chala warnings istundi before they take any action

[RAHUL_DRAVID]

Primary homes rents ivadam is mortage fraud... can go to jail or pay hefty fine.. lots of desis doing this carefull.. u have signed this document at closing.

 

[fasak_vachadu]

10 minutes ago, RAHUL_DRAVID said:

Primary homes rents ivadam is mortage fraud... can go to jail or pay hefty fine.. lots of desis doing this carefull.. u have signed this document at closing.

 

Paying guest kinda room ivva ram kuda na ??

[megadheera]

10 minutes ago, RAHUL_DRAVID said:

Primary homes rents ivadam is mortage fraud... can go to jail or pay hefty fine.. lots of desis doing this carefull.. u have signed this document at closing.

 

If you buy as primary and rent right away then it is mortgage fraud. If you stay in the house for sometime and rent then it will Not be an issue 

[megadheera]

15 minutes ago, All_is_well said:

This is for those who are renting there homes..

e roju ma community lo pedda racha ayindhi.. ma community lo okathanu rent ki icchadu tenant ki, with out notifying HOA. HOA vallu evict cheysaru tenant ni, cops vacharu, tenant gadu landlord ni sue cheystha anatunadu for inconvenience and damages. If you are trying to rent your house on market make sure you learn about HOA rules. 

Of course you need to inform HOA when you rent your house. 

[All_is_well]

4 minutes ago, megadheera said:

If you buy as primary and rent right away then it is mortgage fraud. If you stay in the house for sometime and rent then it will Not be an issue 

Atleast 1 year anukunta 

[RAHUL_DRAVID]

2 minutes ago, All_is_well said:

Atleast 1 year anukunta 

Yes Minimum one yr and also have to check HOA rules.. some communities does not accept rentals or Airbnb at any time

[megadheera]

And konni HOA lu rent allow cheyavu and konni they put cap like only 10% of houses can rent like that

[Thokkalee]

27 minutes ago, megadheera said:

If you buy as primary and rent right away then it is mortgage fraud. If you stay in the house for sometime and rent then it will Not be an issue 

Depends on the loan agreement..

the lender has more risk if the home is a rental home.. you must always inform the lender if you are renting the home instead of staying… even if you stayed in the home for the specified duration.. 

[Undilaemanchikalam]

50 minutes ago, All_is_well said:

This is for those who are renting there homes..

e roju ma community lo pedda racha ayindhi.. ma community lo okathanu rent ki icchadu tenant ki, with out notifying HOA. HOA vallu evict cheysaru tenant ni, cops vacharu, tenant gadu landlord ni sue cheystha anatunadu for inconvenience and damages. If you are trying to rent your house on market make sure you learn about HOA rules. 

Ma community lo similar situation happened, desi landlord paid $35k for settlement.

[megadheera]

2 minutes ago, Thokkalee said:

Depends on the loan agreement..

the lender has more risk if the home is a rental home.. you must always inform the lender if you are renting the home instead of staying… even if you stayed in the home for the specified duration.. 

not required. You just need to inform to your insurance company and change the plan to rental property