While I’m at it…another POSSIBLE foreclosure… - Posted by Donna
Posted by Donna on March 25, 2002 at 16:49:01:
I know of another house that has a friend of mine renting it. She found out that the rent she’s paying on the house hasn’t been going to the house payments. She was renting with option to buy. The lease they had expired a few months ago and she has been going month to month until she can get out (she doesn’t want to buy it, but hasn’t told him yet, cause she has not decided where to move to or if she should even stay in that town).
The man is on the loan and of course the deed. But the deed is in both his AND his ex wife’s (she is NOT on loan). Thus when my friend called, she called under the guise as the ex. She found out last payment made on this bi-monthly paid loan was Jan. 14th. And she was told that $2000.22 must be paid by next due date of March 23rd (last Friday) to prevent foreclosure from being started.
Ironically, that’s when she paid landlord another month’s rent (he was supposed to pick it up the week before…actually two Sunday’s ago he said he’d be by, but never showed up either Sunday. He finally came at 6:30p Friday and she paid him cash (and yes she got him to sign receipts of the cash payments).
Now in her ORIGINAL deal with him, payments WERE supposed to be paid directly to mortgage company(rent w/option), but he never told her who to pay or mortgage account # and in fact asked her to pay him, that he’d pay the mortgage company.
For the record, property taxes on property last were due Nov. and haven’t been paid…and come May it’ll be a year behind. So come NEXT February if taxes aren’t paid, it goes to tax auction.
The landlord lost his job last October and lost a new job due to failing a drug test (he IS an alcoholic). Now what does this matter? Well, my friend suspects that the money he just got is NOT going to go to mortgage company.
She doesn’t want the bank to come knocking on her door with a 15 day notice after having paid for a month’s rent.
How long before she has to worry about that? She plans on calling mid-week this week to find out if he applied ANY payments to the mortgage or not. If not and foreclosure is starting, how long before she’ll find out? Is she still responsible for paying HIM rent?
Anything else she has to be worried about or keep her eyes open for?
Thanks!
Donna