Can I collect rent while my house is in default?
Date: Mon, 06/15/2009 - 04:05
I am in default on my mortgage. I am considering just letting the home foreclose. Can I collect rent, and pocket it, during the few months while they foreclose while I am not paying the mortgage?
I don't think that there is any such law that will prevent you f
I don't think that there is any such law that will prevent you from collecting rent so long as your home is not foreclosed. Moreover as per the "Protecting Tenants at Foreclosure Act" passed in 2009 by President Obama, the tenant can stay till the end of the lease even after the property is foreclosed. So it may not be difficult to find a tenant even if your home is under foreclosure.
