How to solve issue of lease termination during mortgage (Irving: sublease, apartment complex)

[greenusa17]

Landlord said I can not stay at current apt beyond move out date if my loan gets rejected and I dont get new house. I am afraid of becoming homeless. Landlord also said that I will be under lease till new tenant moves in. Giving move out notice and paying reletting fee doesn't remove me from lease.

[TurtleCreek80]

OMG, OP, what do you want us to tell you????

I'd start working with a new lender(s) ASAP and see if anyone can close a loan for you on 9 business days' notice AND be willing to ignore your current lease nor the fact that you still haven't provided your landlord 60 days' notice that you're moving out.

[RedTexanTea]

I would find a new lender. I bought a house 2 years ago. I was 4 months into a 12 month lease at an apartment when I found the home I have now. The subject of my lease and how I was going to meet my financial obligations of that lease never came up throughout the entire process. I paid my lease break fee and turned over the keys for my apartment about a month after I closed. My existing lease was a non-issue.

[frisco19542]

Something is not right. If you have money in the bank and your pre approved for a mortgage your should have no problem unless you lied to lender. If your worried about the loan lenders will go through the process so paperwork is not an issue. You get the money based on appraisal of the house.

It costs money to buy a house if you do. It to break a lease wait until the lease is over.. you need to not freak out about breaking a lease with a fee means just that. They can not charge a leasing fee and make you pay till the end of the lease. You either owe the remainder of the lease or pay a fee to break it not both.

From what I can tell you owe about 3 months and your trying to get out of paying that. You also probably got a month free so it actually more then 3 months if that is the case. You should have had a longer close or gave notice sooner.

[greenusa17]

I did not get free month. 6 months left in lease. I am ready to pay any amount up to $12000 to get out of lease but landlord denied all requests and told me that I must follow all lease terms including rent payment every month. I was 100% honest with lender. Lender told me that I should be out of lease liability before closing this loan.

Other lenders offered me loan without lease issue but I dont have enough time for closing and interest rate is 0.7% higher than my locked rate.

[TurtleCreek80]

Originally Posted by greenusa17

I did not get free month. 6 months left in lease. I am ready to pay any amount up to $12000 to get out of lease but landlord denied all requests and told me that I must follow all lease terms including rent payment every month. I was 100% honest with lender. Lender told me that I should be out of lease liability before closing this loan.

Other lenders offered me loan without lease issue but I dont have enough time for closing and interest rate is 0.7% higher than my locked rate.

Having a lower interest rate won't do any good if your loan won't fund.

Again, what exactly do you want from this forum? We all told you to get cracking with a new lender last week. You've wasted a week and are likely going to lose the house (and whatever option money you have in escrow, plus whatever you owe for the appraisal and inspection) because clearly you're not going to change your lender not landlord's minds before next Friday.

[frisco19542]

Originally Posted by greenusa17

I did not get free month. 6 months left in lease. I am ready to pay any amount up to $12000 to get out of lease but landlord denied all requests and told me that I must follow all lease terms including rent payment every month. I was 100% honest with lender. Lender told me that I should be out of lease liability before closing this loan.

Other lenders offered me loan without lease issue but I dont have enough time for closing and interest rate is 0.7% higher than my locked rate.

I think this guy is playing a game. He could always prepay 6 months of the lease and get a statement showing it. That would zero out his liability. There is no way he could be liable for more then 6 months. The question of the lease is only an issue if the OP has no intention of moving in and has multiple properties.

Also anyone who is going through closing would seek out another lender and forget about what rate they locked it in if there getting a run around. If you don't get approved at a certain point in closing many times your only option may have to accept a small increase in interest and you do what you have to do to close the house.. So something is not correct.

[turf3]

Besides that any landlord would jump at getting paid for the entire remaining lease period and having the tenant move out early. No loss of rent income while repainting, cleaning, etc.

Of course if you really really tick off your landlord, they might decide to dig in their heels just out of contrariness.

I agree, all this lengthy story doesn't add up in the real world where people want to make money with minimum hassle.

[greenusa17]

If you dont believe me, just call Contact landlord
(972) 409-0694
stoneleigh@tiptongroup.com
8605 N. MacArthur Blvd.
Irving, TX 75063
they told me that they can not accept payment in advance. there is no way. I offer them 6 months rent plus extra penalty money plus whatever other fees. They just said that they dont want to loose me as a nice tenant. they also emailed me disadvantages of buying a home.

[BigDGeek]

Originally Posted by greenusa17

If you dont believe me, just call Contact landlord
(972) 409-0694
stoneleigh@tiptongroup.com
8605 N. MacArthur Blvd.
Irving, TX 75063
they told me that they can not accept payment in advance. there is no way. I offer them 6 months rent plus extra penalty money plus whatever other fees. They just said that they dont want to loose me as a nice tenant. they also emailed me disadvantages of buying a home.

LOL...my landlord did the exact same thing when I didn't renew in 2009. You are nothing more than a revenue stream to them.