Help me please!

[ucodegen]

FYI, I was advised by a broker and real estate agent that the house was probably going to foreclose and not to pay the owner or his mother another cent!

Brokers and real estate agents are not qualified to give this type of advice.. and they shouldn’t be giving it.

Well, the mother saved it from foreclosing with the senior lien holder, but now the son will not pay his mother and who’s to stop her company from foreclosing.

Who is to stop her from foreclosing? Only if the son comes up with the money! This is why I mentioned you have to follow property and contract law. You have a situation where both could be demanding the rental payment. The question is, who gets it. I would recommend that the mother take immediate action on the property. Until she does, it looks like the son(owner) gets the rent, not the mother(second lienholder), even in spite of the Deed of Trust. The way the trust is worded, it looks like she is trying to save him from himself. You don’t want to get in the middle of that.

In addition, the mother(second) can’t have it both ways:
Please understand, we are NOT a Property Manager and we are not responsible for any repairs to the property during this rent assignment period until notified to the contrary.
If you are a property manager, you can evict and demand rent. If you are only the lien holder you can only demand payments from the one who the loan is with, not any tenant on the property. If you are not the property manager or owner, you do not have the power to evict.

The real kicker here is that they are mother and son and both are demanding payments from the tenant instead of handling it between them. They will really NOT want this to go to court because the judge would not look well on their behavior.

[ucodegen]

@The OC Scam

The difference here is that the property owner is demanding payments and saying that he is NOT letting the property go.

[ucodegen]

@The OC Scam

The difference here is that the property owner is demanding payments and saying that he is NOT letting the property go.

[ucodegen]

@The OC Scam

The difference here is that the property owner is demanding payments and saying that he is NOT letting the property go.

[VoZangre]

Messy messy messy…

Mistake: spending your rent money.

Any mumbo jumbo they send you about “moral ethical” they oughta cram where their co-equal sphincter resists.

While you were in a pickle, nonetheless you ought to have realized that EVENTUALLY that rent would be due to SOMEONE.

Hang in there… best of luck…

[VoZangre]

Messy messy messy…

Mistake: spending your rent money.

Any mumbo jumbo they send you about “moral ethical” they oughta cram where their co-equal sphincter resists.

While you were in a pickle, nonetheless you ought to have realized that EVENTUALLY that rent would be due to SOMEONE.

Hang in there… best of luck…

[VoZangre]

Messy messy messy…

Mistake: spending your rent money.

Any mumbo jumbo they send you about “moral ethical” they oughta cram where their co-equal sphincter resists.

While you were in a pickle, nonetheless you ought to have realized that EVENTUALLY that rent would be due to SOMEONE.

Hang in there… best of luck…

[The OC Scam]

“The difference here is that the property owner is demanding payments and saying that he is NOT letting the property go.”

Correct and you are right! I agree but if it were me I would have held one month’s rent to save a deposit in order to start looking for a new place in 30 days! MOM and Son will work it out but renter will not …unavoidability the renter will pay someone eventually. I really just wanted to rant on about Subprime scum that are trying to rent there junk loans without being up front with renters that they haven’t made a house payments since acquiring there bogus crisis loan which is rent skimming incase subprime gambler is reading . However in the end it really doesn’t matter! The real crisis is the 500,000 homes going into foreclosure across the country and the lead filled plastic toys from China effecting our children and don’t get me started the price of GAS!

[The OC Scam]

“The difference here is that the property owner is demanding payments and saying that he is NOT letting the property go.”

Correct and you are right! I agree but if it were me I would have held one month’s rent to save a deposit in order to start looking for a new place in 30 days! MOM and Son will work it out but renter will not …unavoidability the renter will pay someone eventually. I really just wanted to rant on about Subprime scum that are trying to rent there junk loans without being up front with renters that they haven’t made a house payments since acquiring there bogus crisis loan which is rent skimming incase subprime gambler is reading . However in the end it really doesn’t matter! The real crisis is the 500,000 homes going into foreclosure across the country and the lead filled plastic toys from China effecting our children and don’t get me started the price of GAS!

[The OC Scam]

“The difference here is that the property owner is demanding payments and saying that he is NOT letting the property go.”

Correct and you are right! I agree but if it were me I would have held one month’s rent to save a deposit in order to start looking for a new place in 30 days! MOM and Son will work it out but renter will not …unavoidability the renter will pay someone eventually. I really just wanted to rant on about Subprime scum that are trying to rent there junk loans without being up front with renters that they haven’t made a house payments since acquiring there bogus crisis loan which is rent skimming incase subprime gambler is reading . However in the end it really doesn’t matter! The real crisis is the 500,000 homes going into foreclosure across the country and the lead filled plastic toys from China effecting our children and don’t get me started the price of GAS!

[Anonymous]

“Who is to stop her from foreclosing? Only if the son comes up with the money! This is why I mentioned you have to follow property and contract law. You have a situation where both could be demanding the rental payment. The question is, who gets it. I would recommend that the mother take immediate action on the property. Until she does, it looks like the son(owner) gets the rent, not the mother(second lienholder), even in spite of the Deed of Trust. The way the trust is worded, it looks like she is trying to save him from himself. You don’t want to get in the middle of that.”

ucodegen, I’m already in the middle of it. A place where I don’t want to be. The mother has already compared the situation and her son to giving money to a “crack addict”. This woman called me up at 8:00 pm (I kid you not) and proceeded with a sob story of how her and her husband gave the son large amounts of money to purchase the house they live in and funded some other type of real estate investment for them. Either she was close to tears, or it was one helluva act. The son told me the mother owes him over 100k. They are not on speaking terms. The last I talked with the mother, the son said some things to her that was so horrible, she had to hang up on him.

The mother filed a notice of default on this property last month. The son says his lawyer will block it. The son is adamant that he’s not going to lose the property. Does anybody on here believe him?

edited to add: OC, the mother sent me a whole packet on “rent skimming” said it’s exactly what her son is doing. I guess he is. He hasn’t paid his mortgage in over 6 months. Senior lien signed notice of default in August.

[Anonymous]

“Who is to stop her from foreclosing? Only if the son comes up with the money! This is why I mentioned you have to follow property and contract law. You have a situation where both could be demanding the rental payment. The question is, who gets it. I would recommend that the mother take immediate action on the property. Until she does, it looks like the son(owner) gets the rent, not the mother(second lienholder), even in spite of the Deed of Trust. The way the trust is worded, it looks like she is trying to save him from himself. You don’t want to get in the middle of that.”

ucodegen, I’m already in the middle of it. A place where I don’t want to be. The mother has already compared the situation and her son to giving money to a “crack addict”. This woman called me up at 8:00 pm (I kid you not) and proceeded with a sob story of how her and her husband gave the son large amounts of money to purchase the house they live in and funded some other type of real estate investment for them. Either she was close to tears, or it was one helluva act. The son told me the mother owes him over 100k. They are not on speaking terms. The last I talked with the mother, the son said some things to her that was so horrible, she had to hang up on him.

The mother filed a notice of default on this property last month. The son says his lawyer will block it. The son is adamant that he’s not going to lose the property. Does anybody on here believe him?

edited to add: OC, the mother sent me a whole packet on “rent skimming” said it’s exactly what her son is doing. I guess he is. He hasn’t paid his mortgage in over 6 months. Senior lien signed notice of default in August.

[Anonymous]

“Who is to stop her from foreclosing? Only if the son comes up with the money! This is why I mentioned you have to follow property and contract law. You have a situation where both could be demanding the rental payment. The question is, who gets it. I would recommend that the mother take immediate action on the property. Until she does, it looks like the son(owner) gets the rent, not the mother(second lienholder), even in spite of the Deed of Trust. The way the trust is worded, it looks like she is trying to save him from himself. You don’t want to get in the middle of that.”

ucodegen, I’m already in the middle of it. A place where I don’t want to be. The mother has already compared the situation and her son to giving money to a “crack addict”. This woman called me up at 8:00 pm (I kid you not) and proceeded with a sob story of how her and her husband gave the son large amounts of money to purchase the house they live in and funded some other type of real estate investment for them. Either she was close to tears, or it was one helluva act. The son told me the mother owes him over 100k. They are not on speaking terms. The last I talked with the mother, the son said some things to her that was so horrible, she had to hang up on him.

The mother filed a notice of default on this property last month. The son says his lawyer will block it. The son is adamant that he’s not going to lose the property. Does anybody on here believe him?

edited to add: OC, the mother sent me a whole packet on “rent skimming” said it’s exactly what her son is doing. I guess he is. He hasn’t paid his mortgage in over 6 months. Senior lien signed notice of default in August.

[Raybyrnes]

Doesn’t matter how long you had been paying rent. You owe two month rent and now say you don’t ahve the money becaue you spent it on bills. How do you figure that you are somwhow going to dig out the way you are going?

If you want out here is your gameplan. Use the following link to the San Diego Housing Commission

http://www.sdhc.org/giaffordhousingnews1b.shtml

These properties are a hybrid of owning and renting. You need to get on list s and get prequalified and this take s time.

Additionally you need to get finance adn you obviously have no maney to put doewn so I would use the following link for getting financed

http://www.calhfa.ca.gov/

If you went to get a masters and have student loasn I would contact your current lender and request a deferrment or forbearance. The government proveds you with up to 6 years where you can postpone payment on Federal Loans without adversely affecting your credit. This will free up you monthly cashflow to make you required payments to other debtholder of yours.

Go through the properties and find one You like. Speak with Vicki at the housing commission. That is the way you will find you way out. If you had done this two years ago you would already be in an ownership situation.

Good Luck

[Raybyrnes]

Doesn’t matter how long you had been paying rent. You owe two month rent and now say you don’t ahve the money becaue you spent it on bills. How do you figure that you are somwhow going to dig out the way you are going?

If you want out here is your gameplan. Use the following link to the San Diego Housing Commission

http://www.sdhc.org/giaffordhousingnews1b.shtml

These properties are a hybrid of owning and renting. You need to get on list s and get prequalified and this take s time.

Additionally you need to get finance adn you obviously have no maney to put doewn so I would use the following link for getting financed

http://www.calhfa.ca.gov/

If you went to get a masters and have student loasn I would contact your current lender and request a deferrment or forbearance. The government proveds you with up to 6 years where you can postpone payment on Federal Loans without adversely affecting your credit. This will free up you monthly cashflow to make you required payments to other debtholder of yours.

Go through the properties and find one You like. Speak with Vicki at the housing commission. That is the way you will find you way out. If you had done this two years ago you would already be in an ownership situation.

Good Luck

[Author]

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