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We just moved to this house Dec 1st. The place we were at prior we were there 4 months, and found out the owner gave it up to the bank, who let us out of the lease because we wanted stability for our kids.
So twice now in the past month I've received from the post office a certified mail slip addressed to our LL. It has a sender name on it, and when I google it (the last names) it's a law firm that represents mortgage lenders in foreclosure actions.
I know the only way to get stability really is to own, but we have 2 homes we are trying to sell and can't buy another one right now
I suppose it's my fault for not asking outright if he was current on his payments. I did tell him why we were looking at the place, and also asked if he planned to sell in the near future. Should have been more specific, though nothing would have prevented him from lying I suppose.
Nope, not a good sign. I'm sorry you are running into the same problem. Perhaps it is that you are finding more house than the monthly payment would indicate? In other words, if it's too good to be true, it probably is not true.
hang in there. maybe, if you like the house the owner will sell it to you. I know you said your trying to sell 2 others, but if the payments are OK, then try to get owner financing and make sure it's more than the mortage(the payments that is) and work it with the bank. Another route would be that if it is in foreclosure you can work with the bank to take it over. There's lots of scenarios you can run to try to stay in the house.
There is going to be more of that going on if you believe the financial news...
Also, the problem is many are first time landlords or worse, desperate or reluctant landlords...
You might improve your odds by renting in certain areas... San Francisco has become very aggressive against banks intimidating tenants... I'm sure other areas with rent control must be similar.
Buyers have few options here other than to honor the lease unless they actually plan to occupy the property...
You may be worrying about nothing. How do you know the LL isn;t a creditor on a forclosed property? Or that the LL is trying to negotiate the sale of a property in or going into forclosure? Or the LL may be an investor in mortage securities and they need the LL signature on some forms. or... To worry over a certified letter that you assume is a problem with your LL and your place is a waste of time. Anyway, did you check to see if you are protected under the new federal laws for renters and forclosures?
I would open the letter and see what it says. Then tape it up and write on the front... "Opened by mistake..!"
What can they do, pull out your fingernails..?
If you're worried about the home being forclosed on, do what you have to do to find out...!!
Can you move back into one of your two houses? At least it would be a stable situation until you can move forward.
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