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Real Estate Matters | Is it a good idea to turn FHA-financed condo into a rental?

/ Owner - November 20, 2013

My daughter and I bought a condominium for about $85,000 last year, and its value has gone up at least 10 to 15 percent since then. She is the primary owner for tax purposes since her Social Security number was used for the loan. With her name and mine on the loan application and property, we qualified for a 3 percent down FHA loan. Recently, she lost her job and is moving back home with us. She no longer wants or need to own the property.     Read more……..

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