So LONG story short
~Landlord was doing Loan Remod
~Landlord is making trial payments
~Bank said they sent Remod ppwk
~Landlord says never rec’d
~NEW landlord bought house yesterday 1/5/09
~On Monday (1/11/09) OLD landlord is having a restraining order against bank and NEW landlord because of invalid sale. FOR only 0k!!!
~Paid NEW landlord 1/09 rent (he wanted 00, I told him 00)
~Told new landlord would now buy for 0k in 5 months (he said no)
~I had just resigned two year lease in November with OLD landlord (00 mnth)

FACT: NEW owner has made it CLEAR he just wants to flip the house in the next 3 months, he has NO interest in living there!

?Do I have till my lease expires?
?how long with the restraining order last, will it prevent home from going on market?
?If I do get to stay till lease up will it still be at my OLD rental rate 00?
Just so it’s clear I am referring to "Protecting Tenants at Foreclosure Act 2009". Please don’t reply unless you are familiar with this ACT, as that is what I am basing my case on. Thank you.
CALIFORNIA…sorry forgot to mention that

Technorati Tags: 5 months, Foreclosure, new landlord, reply, restraining order

My husband and I are thinking about buying a home that is in foreclosure, but are unsure of a few things.
*The property we are considering has been in this other family’s hands for ten years, but a couple of years ago they took out a 0,000 2nd mortgage. So between the first and second mortgages they owe close to 0,000. The property now is only worth about 5,000. From what I understand, it is the second that they have fallen behind on.

So, if we were to purchase this property, would we pay what the home is worth, or would we somehow be responsible for the entire debt?

Also, does anybody know anything about the HUD Officer Next Door program? (It’s where officers can buy HUD homes for 50% off) The website says their are no homes in my desired area at this time. Do they use foreclosed homes for this program, and if so will it be just a matter of months before they are flooded with available homes?

Technorati Tags: buying a home, Foreclosure, hud homes, hud officer next door, hud officer next door program, mortgage, officer next door, officer next door program, second mortgages

I need serious answers from people who actually know please. I have a home that i put out for rent. I moved into an apartment and since my partner isnt disabled and has recieved no economic help at all. we couldnt afford life. so we decided to stop paying our house and let it foreclosure. and the money that the renters were paying us we were using to live. will i have to pay what they were paying me because i didnt use it for the house payments?

Technorati Tags: apartment, Foreclosure, money

Recently my friend went into foreclosure (case went before judge and judge granted summary judgement to the bank). My friend is wondering if there are going to go after her for deficiency judgement? The loan was FHA backed and PMI was paid as well (for the 20%). Isn’t the bank first suppose to go to FHA and get there money? Also, at this stage, what would be a good strategy for her to do so the bank will not go after her accounts and paychecks? She lives in Ohio and the foreclosed home is also in home. Thanks.

Technorati Tags: deficiency judgement, fha, foreclosed home, Foreclosure, home thanks, money, paychecks, pmi, summary judgement

I bought a house about 7 months ago with my then fiance. She let after only 1 month and the payment was based on both of our incomes. Now my savings have dwindled to nothing and I have been told I will be layed off in 2 months if I don’t take their job offer in another city. I have had my house for sale for 4 months and no "bites" at all and now I am wondering what would happen if I stop paying and let the bank foreclose? What are my possible options -I cannot afford to keep the house and would like to get out(my company has offered me another job in another city -with a paycut).I have an FHA loan and my ex-fiance is also on the mortgage- what would I be liable for if I just stop paying?I have 2 months left here-should I live "rent free" for those 2 months and build my savings back up a little and let the bank figure out I am not going to pay ? Or should I inform the bank of my intentions?Also what effect on my credit rating will a foreclosure have?I have had excellent credit and have

Technorati Tags: 4 months, 7 months, bank foreclose, credit rating, fha loan, fiance, Foreclosure, house for sale, incomes, job offer, mortgage, quot

Ok, i moved to Orlando last march, now the house where i live is in foreclosure, i have rent contract with a management company, they assure me that they will refund me my deposits, but who will pay my moving expenses and the other things that i already paid? What are my rights? The management companies can wash they hands so easily?

Technorati Tags: Foreclosure, management companies, management company, moving expenses

My husband and I bought our first house May 2008..About 6 months later I lost my job and started having medical issues. We got behind but caught back up with tax return. Then our child started having medical issues and was hospitalized. With all the medical bills we started falling behind again. We have been trying to get a loan modification for almost a year but it has been quite the battle. We do not make enough for the obama program! Which is BS! Now here we are 6 payments behind and the foreclosure process started. With the help of a pro we finally got approved for a loan mod so the foreclosure was put on hold then today we finally found out the amount of our loan mod payment and it’s only less. We needed it to be about 0 less. I am wondering about just doing a shortsell? The loan mod guy told us. We could put it on the market for a short sell and stay here for free while it’s on the market and that would stop the foreclosure. He said he dosen’t think it will shortsell but while it’s up for it. He could keep trying on the loan mod. Does anyone know much about this? Is a shortsell better then foreclosure? Will we still end up paying money to the morgagae company? Will we ever be able to buy a house again? and lastly Could a bankruptcy help in anyway?
Haha Thanks I realize it’s short sale! I’m just looking for some help on my issue not spelling though.

Technorati Tags: bankruptcy, first house, Foreclosure, haha, job, Loan Modification, medical bills, medical issues, money, tax return

We bought our home exactly 4 years ago in July. At that time my husband was making tBwice the income as he is now, and I was earning more too. We put ,000 down on the house and now it is worth about 90,000 less than we bought it for. Because of a decrease in income we have been struggling for 7 or 8 months now on paying the mortgage on time and we can’t get it caught up for nothing. He already works approx 60 hours a week and I have been actively searching for a second job to try to catch things up – with no luck. I have kind of a difficult schedule to work around so it’s not easy to find something with flexibility, but the money is decent, just not the hours, plus we need the benefits.
We are stressed and tired of struggling, and want to go back to renting as we found some cheap apt’s that are nice enough and they cost several hundered less than our mortgage, plus utlities would be cheaper. Because of being 2 to 3 weeks behind on our mortgage payment every month, me and my husband both cannot finish school, but we less could if our expenses were less. We have a realtor who is a short sale specialist come out tomorrow, but we have one big problem! Our central air is not working properly, and we just blew alot of money getting it fixed so that we can sell the house asap, but it will not get cooler than 80 degrees, and he tried to say it is irrepairable. WTH?!!!! So we are moving out to an apt. by next week, and can’t afford to put a new unit in, and God forbid we face a foreclosure because my husband has excellent credit, and mine is pretty good. I’m so discouraged, we know the AC won’t pass inspection but there is nothing we can do about it. Are there any other options?
sorry messed up on typing, very tired!!!
I understand your credit score still drops in a short sale, but it would bring it down for 18 months to 3 years instead of 7 or more years, and would still be easier to but a home again in future.
(buy a home) If we face foreclosure just because we can’t afford to get a new air unit (and our credit cards are to maxed to finance one) then the only way we will ever be able to but again is pay cash (pay off) not finance

Technorati Tags: 3 years, asap, buy a home, credit score, difficult schedule, flexibility, Foreclosure, money, mortgage payment, realtor, second job, Short Sale, wth

Two months ago I found a house to rent through a realtor. I signed a 1-year lease with the realtor and pay my rent to the realtor. The other day, the local sheriff put papers on the door stating that the house is going into foreclosure and will be sold at auction in a month. The realtor is claiming ignorance and says there’s nothing they can do.

I suspect the realtor knew this would happen eventually, but an empty house doesn’t make money, right? (Landlords can be evil…) What are my rights to at least stall this, recoup money, etc. Also I am active duty military which may provide me more protections.
Ideally, I’d like to stay for at least 4 to 6 more months. I don’t want any money back; I’ll keep paying rent as normal until I get orders in 2011.
Correction: the house has been foreclosed upon; filed with county court Aug 27th (according to the rubber-stamp), house to be locked up in October. Hope this clarifies the timeline issue.

Technorati Tags: active duty military, auction, Foreclosure, landlords, money right, realtor, rubber stamp

well iam renting a house thats is in foreclosure and i already send the papers(letter) to the court and the lawyers of the plaintiff explaining my situation as a tenant.people keep telling me to go to a title company and open an escrow account and dont give her directly the money for the rent.If she put the house updated (i dont think she would do that) because she havent called me or respond thats when i give her the money back.but if not iam i still giving her the money the bank could trow me out when they reposses it and i will have no money left to move or rent.what should i do?she rent the house to me in august and she (lanlord) stop paying the mortgage on june,so she knew from the start that she will not pay no more.thats fraud?could i take her to court?i suffer from emotional asthma and believe me i being sick since i receive those papers on front of my door.please help!tDOES ANYONE KNOWS WHAT IS THE PROCEDURE FROM THE BANK DEUTSHE BANK NATIONAL TRUST…IF THEY TOOK THE HOUSE THEY GONNA GIVE ME CERTAIN TIME TO GO? I HAVE BEEN TOLD THAT NOT EVERY BANK WORK THE SAME WAY.
I LIVE ON FLORIDA,THANKS FOR ALL THE ADVICES.

Technorati Tags: advices, asthma, deutshe bank, escrow account, Foreclosure, fraud, lawyers, money, mortgage, national trust, plaintiff, title company