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January 31, 2009 at 11:51 PM #340115February 1, 2009 at 7:54 AM #339617AnonymousGuest
If it’s a Notice of Default, you have at least three months before the Notice of Trustee Sale is filed. (That’s by statute.) So you’ll make it to July even if Countrywide moves promptly. However, because it’s Countrywide, when the Notice of Trustee Sale appears, you should let them know that a tenant resides at the property. Countrywide is second only to Deutsche Bank in trying to get around the 60-days notice requirement by “evicting” the owner.
February 1, 2009 at 7:54 AM #339942AnonymousGuestIf it’s a Notice of Default, you have at least three months before the Notice of Trustee Sale is filed. (That’s by statute.) So you’ll make it to July even if Countrywide moves promptly. However, because it’s Countrywide, when the Notice of Trustee Sale appears, you should let them know that a tenant resides at the property. Countrywide is second only to Deutsche Bank in trying to get around the 60-days notice requirement by “evicting” the owner.
February 1, 2009 at 7:54 AM #340039AnonymousGuestIf it’s a Notice of Default, you have at least three months before the Notice of Trustee Sale is filed. (That’s by statute.) So you’ll make it to July even if Countrywide moves promptly. However, because it’s Countrywide, when the Notice of Trustee Sale appears, you should let them know that a tenant resides at the property. Countrywide is second only to Deutsche Bank in trying to get around the 60-days notice requirement by “evicting” the owner.
February 1, 2009 at 7:54 AM #340066AnonymousGuestIf it’s a Notice of Default, you have at least three months before the Notice of Trustee Sale is filed. (That’s by statute.) So you’ll make it to July even if Countrywide moves promptly. However, because it’s Countrywide, when the Notice of Trustee Sale appears, you should let them know that a tenant resides at the property. Countrywide is second only to Deutsche Bank in trying to get around the 60-days notice requirement by “evicting” the owner.
February 1, 2009 at 7:54 AM #340160AnonymousGuestIf it’s a Notice of Default, you have at least three months before the Notice of Trustee Sale is filed. (That’s by statute.) So you’ll make it to July even if Countrywide moves promptly. However, because it’s Countrywide, when the Notice of Trustee Sale appears, you should let them know that a tenant resides at the property. Countrywide is second only to Deutsche Bank in trying to get around the 60-days notice requirement by “evicting” the owner.
February 1, 2009 at 11:41 PM #339782stockstradrParticipantQuick comment: this nasty trick is becoming ever more popular. I’m implying homeowners who’ve decided to walk away, will rent their home at same time they stop mortgage payments..knowing that renter will eventually get kicked out!
Just last week at work people were talking about all their friends (who are way underwater on mortgage) are using this evil trick. Some use it to trade into (buy) another home at today’s lower home prices.
I’m now looking for new rental. We are telling prospective landlord: “Fine, we’ll give you our credit report and income verification, but in return we need proof the mortgage on this property is not in arrears.”
February 1, 2009 at 11:41 PM #340107stockstradrParticipantQuick comment: this nasty trick is becoming ever more popular. I’m implying homeowners who’ve decided to walk away, will rent their home at same time they stop mortgage payments..knowing that renter will eventually get kicked out!
Just last week at work people were talking about all their friends (who are way underwater on mortgage) are using this evil trick. Some use it to trade into (buy) another home at today’s lower home prices.
I’m now looking for new rental. We are telling prospective landlord: “Fine, we’ll give you our credit report and income verification, but in return we need proof the mortgage on this property is not in arrears.”
February 1, 2009 at 11:41 PM #340204stockstradrParticipantQuick comment: this nasty trick is becoming ever more popular. I’m implying homeowners who’ve decided to walk away, will rent their home at same time they stop mortgage payments..knowing that renter will eventually get kicked out!
Just last week at work people were talking about all their friends (who are way underwater on mortgage) are using this evil trick. Some use it to trade into (buy) another home at today’s lower home prices.
I’m now looking for new rental. We are telling prospective landlord: “Fine, we’ll give you our credit report and income verification, but in return we need proof the mortgage on this property is not in arrears.”
February 1, 2009 at 11:41 PM #340231stockstradrParticipantQuick comment: this nasty trick is becoming ever more popular. I’m implying homeowners who’ve decided to walk away, will rent their home at same time they stop mortgage payments..knowing that renter will eventually get kicked out!
Just last week at work people were talking about all their friends (who are way underwater on mortgage) are using this evil trick. Some use it to trade into (buy) another home at today’s lower home prices.
I’m now looking for new rental. We are telling prospective landlord: “Fine, we’ll give you our credit report and income verification, but in return we need proof the mortgage on this property is not in arrears.”
February 1, 2009 at 11:41 PM #340325stockstradrParticipantQuick comment: this nasty trick is becoming ever more popular. I’m implying homeowners who’ve decided to walk away, will rent their home at same time they stop mortgage payments..knowing that renter will eventually get kicked out!
Just last week at work people were talking about all their friends (who are way underwater on mortgage) are using this evil trick. Some use it to trade into (buy) another home at today’s lower home prices.
I’m now looking for new rental. We are telling prospective landlord: “Fine, we’ll give you our credit report and income verification, but in return we need proof the mortgage on this property is not in arrears.”
February 2, 2009 at 10:35 AM #339857AnonymousGuestThat’s a good protection, but what if the landlord quits paying the mortgage the next month? You should do two other things, as well. The first is to write a provision into the lease (if it’s not a month-to-month agreement) that any default on any mortgage (many landlords have more than one) is a breach of the lease. This enables you to move, should you want to, rather than pay rent until the foreclosure sale. The second provision is one that allows you, on any default, to recover your security deposit by not paying rent for one or two months following the default. Landlords who are planning to pull this stunt won’t make any money with these provisions and will likely refuse them, while landlords who can pay the mortgage should see them as harmless.
February 2, 2009 at 10:35 AM #340183AnonymousGuestThat’s a good protection, but what if the landlord quits paying the mortgage the next month? You should do two other things, as well. The first is to write a provision into the lease (if it’s not a month-to-month agreement) that any default on any mortgage (many landlords have more than one) is a breach of the lease. This enables you to move, should you want to, rather than pay rent until the foreclosure sale. The second provision is one that allows you, on any default, to recover your security deposit by not paying rent for one or two months following the default. Landlords who are planning to pull this stunt won’t make any money with these provisions and will likely refuse them, while landlords who can pay the mortgage should see them as harmless.
February 2, 2009 at 10:35 AM #340279AnonymousGuestThat’s a good protection, but what if the landlord quits paying the mortgage the next month? You should do two other things, as well. The first is to write a provision into the lease (if it’s not a month-to-month agreement) that any default on any mortgage (many landlords have more than one) is a breach of the lease. This enables you to move, should you want to, rather than pay rent until the foreclosure sale. The second provision is one that allows you, on any default, to recover your security deposit by not paying rent for one or two months following the default. Landlords who are planning to pull this stunt won’t make any money with these provisions and will likely refuse them, while landlords who can pay the mortgage should see them as harmless.
February 2, 2009 at 10:35 AM #340306AnonymousGuestThat’s a good protection, but what if the landlord quits paying the mortgage the next month? You should do two other things, as well. The first is to write a provision into the lease (if it’s not a month-to-month agreement) that any default on any mortgage (many landlords have more than one) is a breach of the lease. This enables you to move, should you want to, rather than pay rent until the foreclosure sale. The second provision is one that allows you, on any default, to recover your security deposit by not paying rent for one or two months following the default. Landlords who are planning to pull this stunt won’t make any money with these provisions and will likely refuse them, while landlords who can pay the mortgage should see them as harmless.
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