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Nancy Cross

Real Estate Insanity - Tenant Takes Control

OK, so here's today's Real Estate insanity - A homeowner is renting his house and decides to stop paying his mortgage because he can no longer afford the payments (mortgage, taxes, HOA, etc.).  Eventually, the tenant gets a knock on the door from the Process Server notifying him of an impending foreclosure.  HERE'S THE GOOD PART!  The tenant contacts the mortgage company and starts paying the rent payments directly to them!  The mortgage company is happy so they stop foreclosure proceedings.  The landlord can't evict the tenant because he's making his rent payments. And the tenant refuses showings, so how likely is it the owner can sell the house?  Luckily, this isn't my listing.    True Story, Crazy Times!!
Published Tuesday, November 02, 2010 2:46 PM by Nancy Cross

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