Additionally, that same attorney could verify for you where in the legal process of foreclosure your owner/landlord is. the website is http://www.clerkofthecourt.com but if you don't know legal terminology, it will be a struggle to interpret.
Additionally, whether the landlord/owner is paying the mortgage or not, you have a contractual right to pay him/her. If by chance you have been served any type of legal documents, you may consider going to the next court date and speak w/ the presiding judge to determine what if any actions you can take since you say you are willing to stay and even buy the unit.
Our client, Cherry Picker, works with cash buyers who acquire these kinds of properties and might be a good a good information source although they tend to only work with investors.
Best of luck,
PahRoo Appraisal & Consultancy
Can your landlord evict you? Well, he can try, but my experience is that most of these kind of landlords wouldn't have it together enough to go through the process of eviction. If you showed up in court and have evidence that he was collecting rent and not paying assessments, I would bet it would buy you some time. I bet he is just avoiding the whole situation and letting it go into foreclosure.
You are taking a risk by staying there, the owner could go through eviction proceedings and could, possibly, win a judgement against you.
On the other hand, if you keep in contact with the bank, there is a chance you could buy the property at some point. Living there is not going to matter if you don't have decent credit, so if you don't then forget that pipe dream and consider moving out.
I would suggest getting in touch with a community housing association for some advice. This has been happening a lot lately and there are ways of navigating your way through the process with some help.
Americorp Real Estate
Brokers Associate, e-PRO
This is wrong on so many levels...
Your responsibility is to the owner/landlord, regardless of his financial situation or lack thereof. Period!
The association took your money, that's the bottom line. You owe them nothing & they owe you nothing, you just dished out money in order to pay less, that's the bottom line.
It's true the landlord can evict you at any given moment, lease or no lease, due to lack of payment. You are occupying his property.
As to purchasing the house, the current owner still owns it. All the rights, and responsibilities, of ownership still pertain to him. If HE wants to sell and avoid foreclosure HE, and only HE, can put the house up for sale as a short sale.
Play nice, negotiate with your landlord, work things out and quit paying his bills....it's not going to get you anywhere except broke.
No matter what the owner did or did not do, the best thing for you to do right now is move. I agree with the others, you have no chance to buy this property.
Start looking for another place, and move as soon as you can.
You have almost no rights here, and could find yourself caught between the bank and the owner and find yourself on the street in very short order.
This is just a bad situation and staying will make it worse.
I would not be surprised if this owner would not return you phone calls. Since he has no legal obligation to do so. Just send the rent checks and rebuild your good will with the owner then maybe he would be more amenable to talking to you. However, that is a big if right now.
You have ZERO credibility. And the bank will know that also if you even attempt to submit an offer. Because the owner will have told the bank his tenant has not paid the rent for how many months?
David Cooper Foreclosure and Bank Owned REO Investor in Las Vegas for 35 Years. For your free list
Call +1-7024997037 or check website
I am not sure that I understand everything and I am not an attorney. However, my sense of ethics says you must go.
The association may let you stay, but your landlord has the right to evict. And it's no wonder he wants you out.
What do you need to do to stay? First, not get evicted. Second, you're possibly ruining your own credit by not paying your rent. If the owner reports you to the credit bureaus, that'll lower your credit scores. And if the owner attempts to evict you, that'll be public record.
You outsmarted yourself. You've failed to pay your rent, but have somehow managed to get an agreement from the association. Or have you? The association really doesn't have the right to evict you either. They could place a lien on the property, but there's nothing less that they can do even if you're paying them. So, my guess is that you've been paying the maintenance and assessment (which isn't your responsibility to pay) for the past 9 months while you've been failing to pay the rent (which is your responsibility to pay).
See a lawyer. But I don't think you have any chance of staying in the property if it's foreclosed on . . . much less buying it.
From your question, it seems that you may have stopped paying your rent. If you are not paying your rent, the owner/landlord has the right to evict you as long as he owns the property. The owner may also be able to sue you in court to get the unpaid rent that you owe him. It doesn't matter if the owner is in foreclosure. What matters is that the owner still owns the property.
It could take 12 months or more before the foreclosure is finalized and the bank becomes the owner. The owner has the right to put in another tenant who will pay rent and the owner can use that rental income to pay the mortgage.
That letter from the bank notified you of the possible foreclosure situation. It did not give you the legal right to stop paying your rent to the owner of the property.
Also, your non payment of rent may have damaged your credit score, so you may not even qualify buy a home or rent your next apartment.
I suggest that you contact an attorney to review the details of your situation.
McKinley Park Chicago Real Estate
1. If you have a lease you only need to pay the rent in the lease-nothing else!!!!!!!!!!!!!!!!!!!
2. If you are on a month to month lease, same as 1., but the current owner can start to evict you be giving you 30 days written notice to leave. IF the owner never infomed you in writing that the property was in the foreclosure process he is in violation of the law and when you go to court on the eviction....which take 1-3 months, you need to mention that.
From a practical standpoint, the eviction process in such a situation takes months and the foreclosure will likely conclude before that happens.
Once the bank takes over the property they will have a R E Broke contact you probaby with an offer to leave. The offer will usually include a payment to you of 1-3 months rent as an incentive for you to leave. When they contact you mention that you want to buy the place and see if it can work out.
At minimum, you should contact the city of chicago housing authority to find out your legal rights as a tenant. It does not cost you anything.
Contact a realtor to find out if/when the property is going to be foreclosed, or listed for sale. Then work with that realtor to help you write an offer on the property.
Have you been paying rent AND the HOs fees?
I am curious why you are dealing with the association --- and why would they have a say in allowing you to stay? Is there something in writing to this effect, and is that a legal document?
tell the person you want to buy the place- you have to be qualified of course by a mortgage company
make offer and wait
contact me for help
You could try to purchase the house at the sheriff's sale whenever that happens, but that could be some time and you will need cash and it may be auctioned for more than you are willing to pay.
I doubt the bank will be willing to make a deal with you for later; they will want to put the property on the market.
I think it would be best for you to discuss this with an attorney, especially since you might face eviction.