Santa Rosa, Sonoma, I am desperately trying to find a place to call home nothing in my budget because I have a small dog and a cat

Asked by josy954, Santa Rosa, CA Sat Nov 10, 2012

landlord in foreclosure, when I asked about the situation I got blackmail, intimidation and threat, I can't stay there but wow a rental when you have pets, landlord takes advantage of your love for them to charge you a max I m so disappointed, who cares about your situation All is just about money.

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Richard Pail…, Agent, Santa Rosa, CA
Tue Nov 13, 2012
It is the 2nd best things in life that cost money. Mortgage rates are at record lows so buying in many cases is cheaper that renting... if you can squeeze through the loan process.
Here is a strategy:
Find a seller who is in trouble... facing default and agree to take over the property as is.

A lease with an option to purchase would be ideal. If you can find a seller, with a home that is worth less than the loan, (example the FMV is $300K and the loan balance is $400K) there is a strategy that has worked for others. You agree to rent the home, pay all utilities, taxes and maintenance costs that the current owner pays. The seller pays nothing more on the home as long as you reside in it. You pay everything... and have the right to buy it down the road. Your purchase price will be the loan balance at the time you exercise your option.
This might be more than the FMR (fair market rent) but it gives you the right to buy the home. The option should be for a long term... 10 years. The seller must agree to sell you the home at whatever the current loan balance is at the time you exercise the option. This balance will get less and less over time. We hope the value will go up and up over time.
It is a hedge strategy. The loan should go down a bit every time the rent is paid (rent is equal to the principal, interest, taxes and insurance (PITI). The hope is that the home will go up in value over the time you live there. You will be able to control the property, do with it what you want. YES Virginia... you can have pets.
The seller will be able to salvage their credit, not worry about the property and get a tax deduction for depreciation.
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Arlee Geary, Agent, Santa Rosa, CA
Sat Nov 10, 2012
How much rent are you looking to pay? I may have a rental coming up for $1350/mo. 2 bedroom, i bath, large yard.
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Terry Bell, Agent, Santa Rosa, CA
Sat Nov 10, 2012
Well, money can certainly be a help! You might consider starting to save some for a downpayment on a mobile home or small condo where pets area allowed. Or perhaps you have a relative with money who likes investments and would consider buying a home to rent out to you! Unfortunately there are many tenants that do not clean up after their pets, and so that why landlords have to set down rules because of a small segment of pet owners that do not act responsibly. You might also put up an ad on craigslist for needing a rental and say why you will be a good tenant.
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Essex Mortga…, , Santa Rosa, CA
Sat Nov 10, 2012
I am a little confused ....are you a renter looking for a place to rent? If that is the case what $$$ is within your budget? And pets...what kind? I have a few rental units that I own in Sonoma County....if you can answer my questions I will let you know if I have a unit you can afford.

Thank You -
Jeffrey Martino Young
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