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Posted by sharon 1 year ago In:

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sharon
sharon Asked:

Pocketing rent on second home and not paying mortgage in anticipation of filing bankruptcy

i own 2 homes. i live in one which i own outright. The other is a rental with a mortgage.  I am collecting $2000/mo rent and have not paid lending bank for 5 months in order to build some savings. I have had no contact with lender and they don't know that i rent the mortgaged home. I want to file bankruptcy understanding that i will lose the rental home. Can i be forced to pay back the rent i have kept. i don't deposit this money in any account but rather use it to buy things for myself . What are possible consequences for this when i file for bankruptcy?

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P. McMakin
P. McMakin Answered:

What you're doing is called FRAUD. Your behavior is not only criminal, it is morally reprehensible. I hope your tenants find out what you're doing and sue the pants off you; I further hope the bankruptcy trustee finds out how you've acted and the court disallows your bankruptcy filing & throws the book at you.

Your actions show that you're a greedy money grubbing slimeball. I hope you get exactly what you deserve ~ and it sure as heck isn't more free money!

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Haley Moore
Haley Moore Answered:

Hi Sharon, what you're doing is totally wrong ! You have so much greed when it comes to money. I suggest that you must settle this issue as soon as possible then start some few smart passive income generating business. Example of this is dividing your house the provide some free rooms to let the other people rent it. With this you can slowly gain extra income using a positive approach.

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