Created: 10/19/2009 3:47:19 PM 
JACKSONVILLE, FL -- Don Walker and his wife are trying to sell the home they bought 15 years ago in Julington Creek - but getting an offer these days is a challenge.
"I put it on the market and these times have not produced a buyer. I can't sell it, we have dropped the price $100,000 and still couldn't get lookers," says Walker, who is moving with his wife to Ocala.
Looking at alternatives in a tough market, Walker decided to rent the home under a lease/purchase agreement -- that is until his lawyer told him he couldn't.
"I said, 'what, what? you mean you can't rent it?'"
Walker was told that when the home was purchased, he agreed to occupy the home until the home loan was paid as part of the contract's owner/occupy clause.
"I never had a clue...it is in every contract and people rent houses everyday," says Walker.
Walker contacted his mortgage company and requested a change-in-owner status. Last week he received a letter stating his request was "respectfully" denied.
"This isn't our choice and now they're telling us, 'no, you can't do it,'" said Monday Walker with disappointment.
If he violates this term of the mortgage agreement, Walker says he was told the consequences are severe. "They can call the loan," says Walker.
His advice is to consult your attorney before you rent your home.
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