FHA Mortgage Room Rentals: Myth vs Reality

Quick Answer: FHA borrowers can rent out rooms in their primary residence while maintaining loan compliance, but should consult a HUD-approved housing counselor first. The key requirement is maintaining the property as the borrower’s primary residence while generating rental income from spare rooms. “Dear Steve, Purchased home under an FHA loan. Will be inspected to …

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Jason Missed 10 Mortgage Payments: Is It a Scam?

Quick Answer: Jason’s situation after 10+ missed mortgage payments and 10 months in foreclosure is not a scam, but time is critical before the court case. He has three immediate options: contact the lender directly for reinstatement, consult a HUD-approved housing counselor, or file Chapter 13 bankruptcy to protect the home and establish a payment …

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