Renting my House??!!?

If your ratios that would include the current monthly mortgage were sufficient then you could purchase another house where you are headed to purchase your new home.

What the others are speaking of is forming some type of corporation to sell your current home to or purchase your new home through.

This corporation would have to do as any individual would in the purchase of a home. It would have to prove it was capable of making the monthly mortgage payment with federal income taxes as well as bank statements that would conclusively prove it was earning funds.Also the corp would have to have assets also.

What you call the corporation would be up to you. Corporations are protected by federal and state laws. One would not have to reveal that what portion of the corporation they have in the corporation.Corporations have share holders, even if it only has one shareholder or a million shareholders. You are not required to reveal how many shares you have if any. Your position is that of manager, president, vice president of purchase or what ever position you are in the company.

If you have two years this would be the time to start as the requirement would be to prove at a minimum of two years of income and other necessary mortgage required items to be approved for a mortgage loan.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

I doubt this will work...You will be listed as an officer of the new business or LLC and the note-holder will likely pass on this or jack you into a Commercial rate......

Sorry I don't have a complete answer, but you might want to look into incorporated or forming your own LLC. I'm up late, so this could be misinformation, but I hope it helps a bit.