Zillow Advice: Mortgage - Can I rent it now and hold on to it for a while? http://www.zillow.com/advice-thread/Can-I-rent-it-now-and-hold-on-to-it-for-a-while/428532/ Zillow Advice | Zillow Real Estate What you are proposing, buy ... http://www.zillow.com/advice-thread/Can-I-rent-it-now-and-hold-on-to-it-for-a-while/428532/ What you are proposing, buy and bail, is not a new concept.&nbsp;&nbsp; <a href="http://www.zillow.com/directory/lenders/">Lenders</a> are making it increasingly difficult to do what you propose. <br/><br/>Please review your options with an attorney.<br/><br/> Thu, 12 Jan 2012 22:35:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-it-now-and-hold-on-to-it-for-a-while/428532/ 2012-01-12T22:35:00Z You can do as you like - ... http://www.zillow.com/advice-thread/Can-I-rent-it-now-and-hold-on-to-it-for-a-while/428532/ You can do as you like - however you run into ethical questions and also the fact that it isn't just as easy as stopping the payments and walking away.<br/><br/>There are serious financial repercussions to a <a href="http://www.zillow.com/homes/for_sale/fore_lt/">foreclosure</a> or a short sale, especially if you have income/assets/etc. &nbsp;It is not an easy process, and you will likely walk away with a judgment or unforgiven debt hanging over your head from the rented house as that would be viewed as an investment.<br/><br/>You will probably be better off attempting to negotiate a short sale or foreclosure alternative NOW while you still live in the house as a primary residence. &nbsp;The short sale consequences are MUCH less severe when it is a primary residence as opposed to an investment property or rental property. Thu, 12 Jan 2012 20:34:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-it-now-and-hold-on-to-it-for-a-while/428532/ 2012-01-12T20:34:00Z This a question for a Real ... http://www.zillow.com/advice-thread/Can-I-rent-it-now-and-hold-on-to-it-for-a-while/428532/ <p>This a question for a <a href="http://www.zillow.com">Real Estate</a> lawyer.</p> Thu, 12 Jan 2012 20:15:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-it-now-and-hold-on-to-it-for-a-while/428532/ 2012-01-12T20:15:00Z