I need helpful info (short sale, real estate, foreclose)

[Lisa Clark]

I'm renting a home and the owner is attempting to 'short sale' the house. Am I suppose to continue paying rent during this period? I keep getting different info. Help me!

[Mike1306]

He still owns the home and you are still living there.
If you don't pay you can get evicted.

[Lisa Clark]

That is why I've paid my rent every month. That and the fact that I've never not paid my debts.

I've been advised that he can not qualify for a short sale unless he is behind on his mortgage. I'm paying my rent but he isn't paying his mortgage payment. He can't collect rent from me on a house that he isn't paying his mortgage payment. He also hasn't paid the taxes for 2 years.

[judithexit]

Originally Posted by Lisa Clark

That is why I've paid my rent every month. That and the fact that I've never not paid my debts.

I've been advised that he can not qualify for a short sale unless he is behind on his mortgage. I'm paying my rent but he isn't paying his mortgage payment. He can't collect rent from me on a house that he isn't paying his mortgage payment. He also hasn't paid the taxes for 2 years.

are you a relative of the owner? do you have a lease with him and how much longer before the lease is up? how many payment did he miss? if you know!

[jessiesma]

you need an attorney. Your second paragraph sounds like a bit of wishful thinking. Until the bank forecloses he has a right to the property. I'm not an attorney but you really need to check that with an attorney and if you don't have a lease there could be a problem.

Originally Posted by Lisa Clark

That is why I've paid my rent every month. That and the fact that I've never not paid my debts.

I've been advised that he can not qualify for a short sale unless he is behind on his mortgage. I'm paying my rent but he isn't paying his mortgage payment. He can't collect rent from me on a house that he isn't paying his mortgage payment. He also hasn't paid the taxes for 2 years.

[Lisa Clark]

I am not related to the owner. Never met him. I deal with a real estate firm that manages the property for him. He lives up north. I realize not paying the monthly rent is wishful thinking here, but, I will not do anything that would cause eviction. I just want to know what I should do, if anything.

I have a lease. Lease is up August 31, 2008.

[Lisa Clark]

I don't know how many payments he has missed. The real estate agent he is using told me when he came to put the sign out in the yard that one of the qualifications for short sale is 3 months behind on the mortgage. I don't know who is mortgage is with. Another appraiser recently came out to take pics, etc. 3 days later an agent that came out to show the house told me the price had been reduced $50,000.00 to $199,900.00. I've shown it almost every day since then.

[jessiesma]

we understand your plight, but something is OFF here. The realtors financial responsibility is to her client, the homeowner, so you can't expect her to give you info that could harm him. You MUST get a lawyer.

Originally Posted by Lisa Clark

I don't know how many payments he has missed. The real estate agent he is using told me when he came to put the sign out in the yard that one of the qualifications for short sale is 3 months behind on the mortgage. I don't know who is mortgage is with. Another appraiser recently came out to take pics, etc. 3 days later an agent that came out to show the house told me the price had been reduced $50,000.00 to $199,900.00. I've shown it almost every day since then.

[Mike1306]

There are some here telling you to get a lawyer.
You can spend that money if you like but what is a lawyer going to do for you?

If you have paid first, last and security, tell the agent that is handling things that you would like to utilize the last months payment now. This way you are basically just paying month to month and you are getting what you originally signed for.

You are not out any extra money and you still have a place to stay. Why would you be able to stay there rent free?

I would also mention that they need to be giving you ample notice of showings. They are not allowed to just show up.
One more thing, if the home does sell, in most areas dependent upon how the lease was written you can not be thrown out by the new owner they need to abide by the current lease.

[BucFan]

Tell the visitors to the house that you think there's a sinkhole under it. That ought to get you to the end of your lease.