Posted on: 16th Mar, 2007 08:38 pm
I purchased a second home, 6 months ago, Now I would like to rent it out. Do I need to inform my bank, I need to update the insurance to rental. Will this in any way effect my loan.
I think you should inform the bank from which you have taken the loan.
Since you want to update the insurance to rental, it is better to inform the insurance company about your plan. The loan will not be affected if you rent the property.
The only thing is that you need to make regular payments as you have been doing to repay the loan.
Since you want to update the insurance to rental, it is better to inform the insurance company about your plan. The loan will not be affected if you rent the property.
The only thing is that you need to make regular payments as you have been doing to repay the loan.
"I purchased a second home, 6 months ago, Now I would like to rent it out. Do I need to inform my bank, I need to update the insurance to rental. Will this in any way effect my loan."
As long as ownership of the house is in your name there will not be any affect on the loan because of it being rented out.
Easton
As long as ownership of the house is in your name there will not be any affect on the loan because of it being rented out.
Easton