New foreclosure scam?

[HLS]

FORM..
Here’s an update for you which may or MAY NOT apply to your situation:

I talked to someone today who is involved in such transactions…

It’s a competitive market for realty agents to get exclusive REO listings on foreclosed properties from a lender. It’s not always a bank, it may be servicer that has the rights and ownership after the trustee sale.

Agents may bid to get the listings, and part of their agreement might be to take a reduced commission AND the responsibility of getting the tenant/owner out of the property and having it in decent condition.

The servicer might say: Get possession of the house (vacant) within 10 days, we are willing to pay $2500 for a clean property, or $1500 for 11-20 days, or whatever..

If the agent is happy with the selling commission that they agreed to, they might offer the occupant the full $2500/$1500..

If they aren’t getting a big commission they may try to pocket the vacancy fee to compensate…
Not even sure exactly what is “legal”…

He says that he just offers the occupant full whack from day one, and just explains that it’s in their best interest to vacate without vandalism and they get all the money that is being offered.

He helped carry the last guys aquarium out of the house telling him that it was the best decision for all parties.

If the servicer has in fact assigned the property to a selling agent, they may not want to talk to you, they are busy foreclosing on your neighbor next.

Something similar may be going on with you… just tell them that you have nowhere to go and that you cannot afford to move. Negotiate…

Don’t let them see the expensive stuff in the house, I don’t think that they have any right to enter premises.

If you are worried, consult an attorney.

I would take the landlord to small claims court, it’s an interesting experience if you have the time.
You might even end up on TV.

Posession is nine tenths 😉

[PadreBrian]

Yeah, if she comes back ask for 4k for moving expenses, and negotiate down. Settle for the 2.5k if that’s as high as you can get. life is too short to frack around with a headache.

[PadreBrian]

Yeah, if she comes back ask for 4k for moving expenses, and negotiate down. Settle for the 2.5k if that’s as high as you can get. life is too short to frack around with a headache.

[PadreBrian]

Yeah, if she comes back ask for 4k for moving expenses, and negotiate down. Settle for the 2.5k if that’s as high as you can get. life is too short to frack around with a headache.

[PadreBrian]

Yeah, if she comes back ask for 4k for moving expenses, and negotiate down. Settle for the 2.5k if that’s as high as you can get. life is too short to frack around with a headache.

[PadreBrian]

Yeah, if she comes back ask for 4k for moving expenses, and negotiate down. Settle for the 2.5k if that’s as high as you can get. life is too short to frack around with a headache.

[DaCounselor]

I wouldn’t worry. I would sit tight and wait for the 30 day notice to vacate and hopefully get an offer from the lender for cash in exchange for leaving the place clean. They may even offer reduced rent going forward and allow you to stay in exchange for making the house available for showings.

If your security deposit is large enough, I would sue the owner in small claims court. The owner is going to have a tough time arguing that you shouldn’t get the full deposit back. You should also be able to obtain pre-judgment interest at 10% running from the date the deposit was due back to you, plus court fees, plus interest on the judgment moving forward, plus certain judgment enforcement costs. Even if you don’t recover any money right away, the judgment is racking up 10% interest moving forward – not a bad rate of return these days.

[DaCounselor]

I wouldn’t worry. I would sit tight and wait for the 30 day notice to vacate and hopefully get an offer from the lender for cash in exchange for leaving the place clean. They may even offer reduced rent going forward and allow you to stay in exchange for making the house available for showings.

If your security deposit is large enough, I would sue the owner in small claims court. The owner is going to have a tough time arguing that you shouldn’t get the full deposit back. You should also be able to obtain pre-judgment interest at 10% running from the date the deposit was due back to you, plus court fees, plus interest on the judgment moving forward, plus certain judgment enforcement costs. Even if you don’t recover any money right away, the judgment is racking up 10% interest moving forward – not a bad rate of return these days.

[DaCounselor]

I wouldn’t worry. I would sit tight and wait for the 30 day notice to vacate and hopefully get an offer from the lender for cash in exchange for leaving the place clean. They may even offer reduced rent going forward and allow you to stay in exchange for making the house available for showings.

If your security deposit is large enough, I would sue the owner in small claims court. The owner is going to have a tough time arguing that you shouldn’t get the full deposit back. You should also be able to obtain pre-judgment interest at 10% running from the date the deposit was due back to you, plus court fees, plus interest on the judgment moving forward, plus certain judgment enforcement costs. Even if you don’t recover any money right away, the judgment is racking up 10% interest moving forward – not a bad rate of return these days.

[DaCounselor]

I wouldn’t worry. I would sit tight and wait for the 30 day notice to vacate and hopefully get an offer from the lender for cash in exchange for leaving the place clean. They may even offer reduced rent going forward and allow you to stay in exchange for making the house available for showings.

If your security deposit is large enough, I would sue the owner in small claims court. The owner is going to have a tough time arguing that you shouldn’t get the full deposit back. You should also be able to obtain pre-judgment interest at 10% running from the date the deposit was due back to you, plus court fees, plus interest on the judgment moving forward, plus certain judgment enforcement costs. Even if you don’t recover any money right away, the judgment is racking up 10% interest moving forward – not a bad rate of return these days.

[DaCounselor]

I wouldn’t worry. I would sit tight and wait for the 30 day notice to vacate and hopefully get an offer from the lender for cash in exchange for leaving the place clean. They may even offer reduced rent going forward and allow you to stay in exchange for making the house available for showings.

If your security deposit is large enough, I would sue the owner in small claims court. The owner is going to have a tough time arguing that you shouldn’t get the full deposit back. You should also be able to obtain pre-judgment interest at 10% running from the date the deposit was due back to you, plus court fees, plus interest on the judgment moving forward, plus certain judgment enforcement costs. Even if you don’t recover any money right away, the judgment is racking up 10% interest moving forward – not a bad rate of return these days.

[dharmagirl]

I was under the impression that an agent (assigned by the bank) can simply show up at the property and change the locks if the occupant has not vacated in time.

Not sure if this is true.

[dharmagirl]

I was under the impression that an agent (assigned by the bank) can simply show up at the property and change the locks if the occupant has not vacated in time.

Not sure if this is true.

[dharmagirl]

I was under the impression that an agent (assigned by the bank) can simply show up at the property and change the locks if the occupant has not vacated in time.

Not sure if this is true.

[dharmagirl]

I was under the impression that an agent (assigned by the bank) can simply show up at the property and change the locks if the occupant has not vacated in time.

Not sure if this is true.

[Author]

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