HELP! How to keep a primary residence as a rental??
BP Family...
My father and his wife would like to move from his current home and purchase a new primary residence using a USDA loan. After speaking with lenders, it seems they won't qualify for the USDA loan unless the loan on his current home is somehow removed from my father's name. Ordinarily they would just sell the home and pay the mortgage off at closing, but they would like to keep the home as an investment property. Is this possible? I'm a Realtor, and thought I might take it over, but I don't have qualifying income. How can we keep the home in our family as a rental?