Home not selling? You are thinking of renting it out and moving? Think Again!

The way loans used to work don’t work that way. That’s what I did back in 2001 or so when the market in Utah was depreciating. I just moved out of my home, leased it out and bought a new one.

FannieMae changed their rules though. You can't do that anymore. Why the change? There was something mysterious going on with many buyers this past year. They were upside down in their home, so they moved out, bought a home and left their home behind them. So FNMA changed the rules.

Heres the new rules:

If you move out of your current home and into another, you have to qualify for both payments. (Old days they would let you count the rent..but not anymore.

Not only would you