I really need to stop mowing my lawn

[Broke 0]

So the other day I was in my back yard mowing my lawn.

Suddenly I noticed there was a man in his pajamas walking around to my backyard. In his hands was a bunch of papers. At first I thought it was someone wandering around the neibourghood with a petition for something or other. However I was sadly mistaken.

He asked me who I was as he handed me some papers. Then he asked me if I knew what it was. I claimed it looked like some sort of legal document. To which this man informed me that my landlord hasn't payed the mortgage in three months.

Needless to say I am felling kinda stressed right now, as my living situation is uncertain.

Divot your source for all things Hillbilly.
Anvil Brother 84
SCR 14192

[iluvtofly 0]

[Armour666 0]

thats sucks, I would see what kind of mortage you can get and wait and see if it turns in to a good deal. also have a plan "B" and another place potentaly lined up.

SO this one time at band camp.....

"Of all the things I've lost I miss my mind the most."

[christoofar 0]

Three things:


1. Call the landlord NOW. Find out how much the mortgage is in arrears and how much the monthly payments are.


Plan B:

IF... the payments are reasonable that the landlord is making... as in you could pay these payments if you were paying them, then offer to assume the landlord's mortgage in exchange for all his equity and voiding of the lease contract. You will need to call a lawyer in and also the mortgage company, and you will have to be put on to the mortgage, as the deed to the house will also need to be taken off the landlord's name.

The benefit? The landlord's credit rating won't take a huge nosedive and he/she can avoid filing BK to try to save the house. In exchange, you get a house at a cheaper price than the landlord is paying presently, and the landlord can recognize a loss on the property at sale time.


Plan C
If the landlord won't budge, then you could try to get the house yourself when it goes up for Sherrff's sale. The housing market sucks, and banks are taking losses left and right because they're liquidating houses while prices are depressed, and depressing prices even further because of it. You can do this without moving out of the house in almost all cases.


Plan D - Bail
In your next rental, demand to see a copy of the last mortgage statement from the landlord before signing your lease. I had to do this for the rowhouse I live in now.

If the landlord won't show you the mortgage statement--then he's falling behind on the mortgage. Politely tell him that in exchange for checking your credit and references, the least he should do is prove to you that he's fiscally responsible in maintaining the property and not putting you in jeapordy of eviction beyond your control because of irresponsibility.

If the landlord still refuses, then walk away. No landlord or property manager is going to NOT show you some sort of proof that they are financially solvent before you assume a lease, especially for leases on houses above $2,000 a month and for corporate leases... and for private homeowners, you can just politely ask to review his mortgage payments he's made while you are present looking at the home.

____________________________________________________________
I'm RICK JAMES! Fo shizzle.

[Broke 0]

I was actually thinking about talking with the landlord about being able to assume the payments of the mortgage. If the rent I was paying was at least covering the Mortgage then I should be able to make it no sweat.

However that would mean that I need a responce from the landlord.

I have reviewed the NYS renter bill of rights, but that seems to be more geared tword people who are renting an appartment in a multipole family dwelling, so I am also considering getting some advice given my unique situation.

Divot your source for all things Hillbilly.
Anvil Brother 84
SCR 14192

[Jewels 0]

Have you investigated this further? I find it odd that a man in his pajamas would be handling landlord/tenant matters.

TPM Sister #102

[DangerRoo 0]

Quote

Have you investigated this further? I find it odd that a man in his pajamas would be handling landlord/tenant matters.

thats what I thought! and people say we, in the NORTHWEST are wierd!!

Jason, I'm sorry to hear of this hard time, give me a call and vent!
Your a great person and things will work out for you.

(I.C.D#2 VP)
"<3 ..Looks like breasts coming out of an ice cream cone. Mmmm."~John Mitchell
"I'm good with my purple penis straw" ~sky mama

[tigra 0]

So, what exactly were you given? Were you served with an eviction notice? If you've got a valid lease, that runs with the property which means you have some legal rights even if the owner loses the property to foreclosure or auction. I'd still start looking for a new place to live but they can't just put you out on the street. Also, foreclosures can take several months if not longer so you should have a little time.

[Broke 0]

It appears to be the preforclosure notice

Divot your source for all things Hillbilly.
Anvil Brother 84
SCR 14192

[DougH 270]

This whole things screams weird scam...

I deal with a lot of whacky banks, but none of them would send some one out in their night wear!!!

"The restraining order says you're only allowed to touch me in freefall"
=P

[tigra 0]

I'm sure there are some legal notice and publication requirements, so that's probably what the man gave you. Like I said, as long as you have a lease, you have rights but once the foreclosure is finalized, you might not like your new landlord(s). I'd just continue making your payments as agreed unless or until you get legal notification to send them somewhere else. You don't want to be the one to break the lease and give anyone cause to start eviction proceedings until you are ready to move.

[swisschris62 0]

I doubt youll be going any where real soon.
Someone ive dont quite a bit of work for bought a brownstone in brooklyn that was in foreclosure from the bank.
When he got to the brownstone there was a squatter (bum) living there without electricity or water.
This guy figured since the property was his now he would change the locks and force the bum out.
3 hours after changing the locks he heard a knock on his door at his other house.
He got to the door only to find the cops there who were telling him he had one hour to get the locks off the doors or he would be going to jail.
Its been 3 months now and the bum is still there and this guy is still going to court on the matter. As for me Im waiting for the bum to move out so we can renovate the place which he will then flip.
This guys mom ( the lady ive done quite a bit of work for ) is a fairly famous author and is a professor/department head over at n.y.u. so its not as if these people dont have a little bit of juice to manipulate the system to their benefit all to no avail.
Now we are sitting back waiting to see which judge will order the bum out.