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The OC Scam
ParticipantThe escrow account can be a money market account if you wish but as others implied you can pull money out as you want very freely. My loan officer friend agreed to put the money into a escrow account for us with the intent to hold until the foreclosure was over I sent the rent to the loan officer every month. When the process was over I took out some money to start a new lease, pay first months rent and the rest of the money had been sitting in the account with some going to Lawyer fees.
Marion you do not want to be in the middle anymore find another home. I have three kids and I know it is very difficult however children will grow and adapt. My parents moved many times when I was growing up and none of my siblings turned out to bad except me! Your parenting is what matters here not changing homes. Good Luck I wish you guys the best in finding a new home!
ParticipantYes to SDrealtor I still think squatters are cool we live on the edge!! lol
ParticipantYes to SDrealtor I still think squatters are cool we live on the edge!! lol
ParticipantYes to SDrealtor I still think squatters are cool we live on the edge!! lol
ParticipantYes to SDrealtor I still think squatters are cool we live on the edge!! lol
ParticipantBy the way yes I have run this issue before with SD realtor ( which gets my respect on the issue) and this time I agree with the logic that if this has been a 3 year deal and all of sudden the guy has gotten into a mess then the renter needs to either move on or pay up! And yes there is a huge difference if Marion wants to get a deal on the house but I can say from experience is not a easy journey! My situation was very different the owner had 7 homes at 100% loans and purchased in August 2006 I signed the lease in Nov 2006. The owner told me to stay as long as we could and she letting the house go. We continued to deposit the funds every month in an escrow account and when the home was purchase back by the bank we sign a month to month rental agreement on another home down the street as a back up plan while we work on our purchase offer. Not to mention I was advised by my lawyer through the entire process.
ParticipantBy the way yes I have run this issue before with SD realtor ( which gets my respect on the issue) and this time I agree with the logic that if this has been a 3 year deal and all of sudden the guy has gotten into a mess then the renter needs to either move on or pay up! And yes there is a huge difference if Marion wants to get a deal on the house but I can say from experience is not a easy journey! My situation was very different the owner had 7 homes at 100% loans and purchased in August 2006 I signed the lease in Nov 2006. The owner told me to stay as long as we could and she letting the house go. We continued to deposit the funds every month in an escrow account and when the home was purchase back by the bank we sign a month to month rental agreement on another home down the street as a back up plan while we work on our purchase offer. Not to mention I was advised by my lawyer through the entire process.
ParticipantBy the way yes I have run this issue before with SD realtor ( which gets my respect on the issue) and this time I agree with the logic that if this has been a 3 year deal and all of sudden the guy has gotten into a mess then the renter needs to either move on or pay up! And yes there is a huge difference if Marion wants to get a deal on the house but I can say from experience is not a easy journey! My situation was very different the owner had 7 homes at 100% loans and purchased in August 2006 I signed the lease in Nov 2006. The owner told me to stay as long as we could and she letting the house go. We continued to deposit the funds every month in an escrow account and when the home was purchase back by the bank we sign a month to month rental agreement on another home down the street as a back up plan while we work on our purchase offer. Not to mention I was advised by my lawyer through the entire process.
ParticipantBy the way yes I have run this issue before with SD realtor ( which gets my respect on the issue) and this time I agree with the logic that if this has been a 3 year deal and all of sudden the guy has gotten into a mess then the renter needs to either move on or pay up! And yes there is a huge difference if Marion wants to get a deal on the house but I can say from experience is not a easy journey! My situation was very different the owner had 7 homes at 100% loans and purchased in August 2006 I signed the lease in Nov 2006. The owner told me to stay as long as we could and she letting the house go. We continued to deposit the funds every month in an escrow account and when the home was purchase back by the bank we sign a month to month rental agreement on another home down the street as a back up plan while we work on our purchase offer. Not to mention I was advised by my lawyer through the entire process.
ParticipantCONTACT A LAWYER!! By the way rent skimming only works when the home was purchased within 12 months from you signing the lease agreement. You have been there for more than 2 years so rent skimming doen’t apply to you! The son deserves to be paid even if his house is going into foreclosure and you can not only get evicted but they could file a judement against you which could really screw up your credit and ability to purchase a home in the future.
Also these low income programs usally require you to have 12 months solid rent payment history which you have just messed up you may want to have another talk with the landlord ASAP.ParticipantCONTACT A LAWYER!! By the way rent skimming only works when the home was purchased within 12 months from you signing the lease agreement. You have been there for more than 2 years so rent skimming doen’t apply to you! The son deserves to be paid even if his house is going into foreclosure and you can not only get evicted but they could file a judement against you which could really screw up your credit and ability to purchase a home in the future.
Also these low income programs usally require you to have 12 months solid rent payment history which you have just messed up you may want to have another talk with the landlord ASAP.ParticipantCONTACT A LAWYER!! By the way rent skimming only works when the home was purchased within 12 months from you signing the lease agreement. You have been there for more than 2 years so rent skimming doen’t apply to you! The son deserves to be paid even if his house is going into foreclosure and you can not only get evicted but they could file a judement against you which could really screw up your credit and ability to purchase a home in the future.
Also these low income programs usally require you to have 12 months solid rent payment history which you have just messed up you may want to have another talk with the landlord ASAP.ParticipantCONTACT A LAWYER!! By the way rent skimming only works when the home was purchased within 12 months from you signing the lease agreement. You have been there for more than 2 years so rent skimming doen’t apply to you! The son deserves to be paid even if his house is going into foreclosure and you can not only get evicted but they could file a judement against you which could really screw up your credit and ability to purchase a home in the future.
Also these low income programs usally require you to have 12 months solid rent payment history which you have just messed up you may want to have another talk with the landlord ASAP.ParticipantYeah very tuff when you screw up which accounts for recording breaking losses and receive a million dollar settlement. This is why I’m trying to screw up in my current position and in a month I will ask for a 5 year’s salary package to get rid of me!
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