I ask one question: What is the difference between a subprime mortgage loan holder who couldn’t afford the payment s and the renter they chose who couldn’t afford the rent?
Answer: Coequals
FYI
By the way Marion I’m not saying you couldn’t afford the rent I listened to what you wrote other than genius here. You just made an error of trusting the broker friend you should have discussed this with a lawyer. But the bottom line is you more than likely will get the money back and then use it for a down payment but you should be careful of this coming back to haunt you.
Here something you may not expect but I’m spending a couple thousand in lawyer fees to negotiate my purchase so if you would like to purchase this property you’re legally squatting in you should prepare to spend some of that escrow money after the failed auction.
