San Diego Housing Bubble News and Analysis

May be that a short sale is getting close to closing for it? $5000 for two days sounds like they have a buyer lined-up somwehow. Tell your friend to call them back and say they'll do it for $12K.

what do they pay in rent.

they ought to tell them to Fuck off, hire a lawyer, and stay for free as long as they can. they might do better than 12k....

imagine how long you could tie this up in court.... OMFG.....

5k is a joke. i'd call them back and laugh. how about 20k....

Rent is around $2500 I believe.

I agree that they should get more...especially considering that it's almost impossible to find a place and get movers and a rental truck on such short notice. This is a family of 5 we're talking about...it's not that easy to just pick up and move like that.

I wonder if the person calling and making the $5k offer has the authority to offer more.

And is a short sale really all that dependent on the property being vacant?

Who said s/he was a Christian?

Besides, if s/he was a Christian, they would register their vehicles in Nevada instead of CA like my Christian neighbor across the streets does. Or demand a refund for a newly installed mirror with a "defect" that turned out to be a speck of dust like my neighbor down the street did. Or demand a refund for "dead sod" that my neighbor down the street did (and then kept it because it returned to green the next day). Or ask the HOA to waive rules for them because they have 9 kids and can't afford to follow the rules like another neighbor down the street did (uh, who was it who chose not to wear a condom?).

Then, they would be a true Christian.

Oh yeah, that's right. If they were a Christian, they wouldn't be perfect. Just forgiven. And dishonest.

Not very muslim either, if I remember my Koran right.

Wow, before this thread gets completely off-topic, I can tell you that I found out that they originally were offered $750 by the bank, and my friends responded by saying how about 2 months rent. The bank said "We'll give you 2 mo. rent but that's all, and we don't negotiate, and this is our last offer, and we need to know by tomorrow afternoon". My friend said they were very unfriendly in their correspondence...not all that surprising when you consider that the banks aren't exactly sitting pretty these days.

Banks are the lamest companies around. We dont negotiate? What did they just do?!
If the house is in foreclosure, your friends can probably stay in it rent free for a long time. Trash their credit, though.

Short tight deadlines bring people to take action. If you gave them a week they would put it off until the last day anyway.

Bank offered 750, people asked 2 months rent, Bank agreed. All parties needs are met. Deal should close.

We are in the same situation...I'm expecting to hear from the bank on our pre-foreclosed rental any day now (NOD was filed in July). Are your friends paying rent at all? According to the new law passed in July renters have 60 days to move and find other housing. Since there is no rental agreement with the bank, are renters required to pay rent to the bank at the same rate? I'm fully prepared to hire a lawyer to protect my rights...just wondering if anyone knows the specifics of how to deal with the bank.

I agree with VC.

It's called negotiating.

I have seen many people try to stay thru the eviction. I have also seen some decent size judgments at the eviction hearings. If you are a renter, make sure not to give anyone your real name.

At www.checkmylandlord.net, we're helping renters check for free to see if their landlord is paying the mortgage. It has been helpful to a lot of people. Spread the word!

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