Asked by Markart, 92372 • Thu Oct 1, 2009
May 2007 we signed a lease option for 1 year. When the time came to exercise our option the value of the house dropped by 50%, we had communications with the owners and they agreed to extend our option at 6 month intervals until we were ready. The market has completely dropped, we have been here for over 2 years now and the owner never sent us our extention contracts. In September we just found a note on the door stating the house will go to auction, we notified the owners and they said they would call the bank. The auction was postponed until October 25th and the owners stated that they are trying to do a work out with the bank. I assume that they haven't been paying the mortgage for the last 9 months at least, we have paid every month with out fail. Do we have a case? Can we prevent the foreclosure and file the Les pendence before the auction date?
Real Estate in Thousand Oaks
Popular Categories in 91362
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!