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Most things seem to be covered here
Posted by PT (more from PT) on Thu, 11 Jun 2009 18:09:08
In Reply to: What about your neighbors?....they have a vested, K-Saab [Profile/Gallery]
, Thu, 11 Jun 2009 16:33:09
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I definitely recommend the idea of a security/monitoring system, they can include quite a few things you may not have thought of, especially if the house is going to be empty. I think renting the house is well worth considering. I know tenants will likely do some damage, but collecting enough to cover most of the mortgage is better than nothing, especially if you are going to be gone for some time. If you do decide to rent, I'd definitely suggest using a property management company; their fees are usually reasonable, and if you rent out the home, you could also deduct trips home to visit it. It is true if you rent the house, or even vacate it, that you are not meeting one of the conditions of your mortgage. You wouldn't be the first person ever to do that, and I'm not aware of a lender ever complaining, as long as payments are being made on time. If you are only going to be gone a few months, or if you are unsure yet if you are going long-term, you may want to wait a while before making a decision to rent. It does look like it's going to be a few years at least before the Michigan market recovers to any extent, so I presume you won't want to sell any time soon. You may be aghast at the thought of the damage five years of renting can do, but you'd me amazed at the damage five years of vacancy can do, even with heat on in winter.
posted by 96.237.16...
Posts in this Thread:
- Moving out of state, No Snaab, Thu, 11 Jun 2009 14:30:12
- Moving because pickin's are slim at Joes?, Ken , Fri, 12 Jun 2009 14:00:09
- Must have a house sitter, OhSaabIAOh, Fri, 12 Jun 2009 08:41:59
- Re: Moving out of state, DER, Fri, 12 Jun 2009 04:28:28
- Ideas....., Herb Hirsch , Thu, 11 Jun 2009 14:48:55
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