One last note… We agreed to withdrawl the sept rent from escrow and pay to him in exchange for him signing the short sale offer. We have already been in contact with the bank so (small investment bank- easy to get through to negotiator) looks like we will own this property in about 30 days.
the rest of the rent is being escrowed should there be a hold up with the sale. No one gets any money until the transaction is complete. Once we own the house he gets any rent monies due.
On a personal note… I think the law that allows LL’s to collect rent on a foreclosing property with no intent to resolve the loan is pretty crappy. That law should be changed.
