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To: tom paine 2
I have a question:

When one rents out rooms in one's home, doesn't that make one a landlord? Communities have all kinds of specific laws and regulations governing rental properties and landlords. In our community, we are not permitted to rent out rooms in our single family homes. I would think that most communities have similar restrictions.

9 posted on 01/10/2002 5:09:24 AM PST by randita
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To: randita
How are these people getting through the mortgage qualification process? Mortgages are supposed to be in accordance with some very strict rules. The money is there because investors are willing to take low returns on mortgage securities in return for low risk.

As to the laws regarding number of occupants in a dwelling, renting out a room,etc... Welcome to the Balkanization of America. Those laws only apply to certain ethnic groups. To make efforts at enforcing those laws, is only an "ethnic assault".

The real risk is in the homeowners insurance coverage. Use of realestate other than what is in very narrow scope in your policies, really lowers the integrity of the issuing insurer. A home with 14 people in it, has a much greater risk factor than one with a single conventional family.

27 posted on 01/10/2002 5:31:40 AM PST by blackdog
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