I agree that there's definately more to the picture than that friend is letting on.
Geanne, I also think this same thing, but the home is listed as they have come by with flyers and such. He said he was not offered anything at all. He said that the person trying to do the loan mod called him and said the bank wants him out by that time. It was proobably the bank trying to do the loan mod also. If the bank wants him out, I would think he still should have to be served some kind of paperwork.
I agree with you both. I still think something is weird. I told him about the " show the note"
I am throwing this out to everyone just looking for other opinions to see how others think, or I should say to see if what I am thinking is the same.
Thanks guys for the answers.
That friend of a friend probably should seek council from a knowledgeable real-estate attorney. S/he might try using the "show me the deed" strategy, and try to do a short-sale. To my knowledge, only a sherrif can remove the person from the property.
I've never heard of that, I do a lot of short sales so it is possible that lenders would start to require something that protects their interest in the property. Also I think there is more to the story, he had to have received a notice of default and received a notice of trustees sale that was mailed and slapped on his front door. The bank is probably being kind in giving him until August 15th as they could do an eviction since he no longer owns the residence. Also, was the property listed? It sounds as if the bank hired an agent to list the property, the REO agent would have done an investigation as to the occupancy of the home prior to listing it and that would be when they offer cash for keys. Unfortunately he doesn't have any tenants rights as he is not a tenant.
Sounds like many parts of the story are missing. He should talk to an attorney, with all the paperwork from the original loan to whatever was given to him by "loan mod" company. He may be able to talk to legal aid or a HUD counsler too.
Do you think this was one of the loan modification companies that you sign your house over to and then they try to short sale it?
It is hard to believe he never got any of the notifications.
Just when I think I've heard it all....