Landlord abandons mortgage while foreclosure in process 1
Posted on
June 21, 2010 by
Nick
One of my Facebook friends ask a question today. “IF A FORECLOSURE IS IN PROCESS AND YOUR LANDLORD ADVISE THAT SHE WILL NOT EVICT ME SINCE SHE CAN NOT COLLECT RENT AND THE PERSON WHO DOES WANT THE MONEY ISN’T PAYING THE MORTGAGE THEY ARE PAYING ASSOCIATION FEES WITH IT WOULD YOU PAY RENT OR NOT?”
The Response
In this case the HOA or condo association can evict you after the board vote on it. The landlord is only trying to help you and I think she’s telling you the truth. My advice is to stay as long as possible and don’t pay a dime. If the association tries to kick you out before foreclosure, ask to pay only the association fee. It’s still less than the full rent. Milk-it all the way to the bank.
I have been hunting for a good apartment in a decent neighborhood for many months. I checked Craiglist and realtor.com and found a few leads. The first apartment I’ve found was located in a condominium complex called Gardens North in Pompano Beach. I had applied for it but was later turned down. Then I stumbled on a condo in Palm Aire Gardens which is less than a mile from Gardens North. So I decided to make an offer to rent the place which the owner/ landlord or property management accepted the same day. Now the next step is the condo approval and lease signing.