patrick.net

Of course he's going to think about it. While he's thinking, you're paying rent.

He can agree to a limited showing schedule, but if it's a short sale the bank calls the shots so far as which offers are accepted or not. IMHO you're spinning your wheels.

have a new landlord call him to check you out as a renter. that will change his tune

he doesn't know what he is doing either, he is just buying time.

There will be no short sale, there will be no modification.

he is letting this go and stringing you along as much as he can( could be a year). IMHO he does not respect you. he doesn't even like you. you are his meal ticket. he and the bank don't give a hoot about you.

let us know when you stop playing nice. are you angry yet or still just afraid? you're acting afraid.
get angry! he doesn't respect you!

NoT everyone is cut out for this crap. you seem to be a nice person. not a ball busting A-hole like me. I would eat this guy for lunch. I live for guys like this. I would have him crying on the phone.

maybe you should just move?

IMO your lazyness(not really wanting to move, wanting to just own this house, easy path) is the only thing giving him a hold on your situation.

I prefer fewer laws and less government, but as a renter I would like to see a significant amount of added protection against deadbeat landlords. How about a law, that any tenant renting a property that has a mortgage attached shall provide a monthly proof of payment to said tenant, and that upon violation of either the terms of the mortgage or failure to provide proof, the tenant is immediately relieved of his following lease payment, and can not be removed from the property for...say, 90 days. Obviously it wouldn't be that simple, but you get the gist of it. I'm tired of renters getting so screwed over, while "owners" get free money hand over fist. Just a thought.

tenant in foreclosed house says

We spoke with him and proposed a limited showing schedule in exchange for lower rent and immediate credit of 1/2 of our security deposit (one months’ rent) towards rent.

your're still not getting it.

sorry tenant I just had to comment on this. My pent up anger over these things is fueling this but it comes from a good place.

remember the guy who showed up to take pictures, and said "talk to your morgage company."
that guy was hired by the bank.
he would have taken over the house had you not been living there. he would of changed the locks , posted a sign in window ,bid for a trash out, Done deal. (bank has it)

IMO Short sale picture people are the realturds/broker types. you would have all ready been speaking to a realturd if a short sale was happening They don't say "talk to your morgage company!" they say things like "maybe the place would sell faster if you dump a bunch of money into your dreamsmasher" like carpet, paint, landscaping." they want the "borrower" to help them sell the place so they'ed be kissing the "owners"/borrowers butt .

If I where you I'd tell the house borrower(your landlord) he has no idea what he is talking about and how much of a dumb ass you've learned he is as you've "gotten up to speed" on this. Let him know that you now realize after looking into this that he has no clue what he is doing. and that you now realize what a load of crap he has been telling you. Tell him you know his scam now. and quit feeding you the BS!
say, "the gig is up buddy! I know what you're doing, I'm not as naive as you thought! do you want to play ball with me or retire?,... because I'm tired of your ($#%^) and I am personally offended. and because I'm so damn mad at you for you lies and disrespect, I want to cause you as much pain as I can. I am Angry and tired Sir. Your actions are threating me and my family and I will do what ever it takes within the law to protect them."

he might hang up,.. if he is still there.

Tell him he will never see another penny from this money pit crapbox if you move. (that he doesn't even own by the way. remember the bank owns it that's why you're in this situation.)

explain
if you stopped paying rent that would be the last money he ever sees. ANY tenant today (with any clue) checks county records. so no new tenant after you.

and tell him
you'll explain to anyone you see looking at the place what the real deal is.

if this isn't your cup of tea, that's cool. It's hardly anyones cup of tea IMHO,

if you would just move out he will never see another penny. and that has got to make you smile.

you're holding all the cards, you have all the power (but not to own this house sorry it will never happen unless you have cash(cashiers check) on the court house steps and then it may still not happen.)

head to the sky!

Jeremy says

I prefer fewer laws and less government, but as a renter I would like to see a significant amount of added protection against deadbeat landlords. How about a law, that any tenant renting a property that has a mortgage attached shall provide a monthly proof of payment to said tenant, and that upon violation of either the terms of the mortgage or failure to provide proof, the tenant is immediately relieved of his following lease payment, and can not be removed from the property for…say, 90 days. Obviously it wouldn’t be that simple, but you get the gist of it. I’m tired of renters getting so screwed over, while “owners” get free money hand over fist. Just a thought.

you're a bleading heart liberal Dem pinko . Ha ha I am too!
peace

Katy's pissed, and you should hire her (him) to represent you... except for one thing:

You don't need representation. You need to find another place to live. You are on a month to month agreement, and the bank can evict you.

Don't flatter yourself thinking that they want you to occupy the house. They don't. They don't know you, and they aren't receiving any money from you whatsoever. You are paying the rent to a man who is laughing his ass off as he doesn't spend it on silly things, like taxes & insurance & the loan.

You've been told multiple times, in multiple ways, that you're dumb as sand if you continue to pay the rent on this place. You insist you're not a deadbeat - but your landlord is and he's enjoying spending the money you're giving him. He's keeping it all.

You have no chance to buy this house.

You do have one other option, tho. I've heard tell that if you have a rental agreement the bank has to honor it when they take possession of the house. Meet with your landlord and pound out a rental agreement that allows you to stay on for a ridiculous amount of money ($350/month sound good?) until next summer when school's out. It's worth a try.

No matter what you do, please try to understand that the bank doesn't know, nor does it care, about you and your family. The bank doesn't care if you are uprooted in the middle of a school year. It also doesn't care if you pay for heat, or shovel snow. The bank is foreclosing on it and you are caught in the middle.

Katy Perry says

you’re a bleading heart liberal Dem pinko . Ha ha I am too!
peace

awww, for a pop star you are quite down to earth. :)

elliemae says

you’re a bleading heart liberal Dem pinko . Ha ha I am too!
peace
awww, for a pop star you are quite down to earth

and for a dog your command of the English language is second to none and you type.. ;-)

I really appreciate all the advice. I think you guys are missing something, however. We are not "lazy", scared or clueless for not wanting to move. We don't want to disrupt our son, who just started kindergarten, for a while. What's the hurry? -- the housing market continues to soften. As Patrick says, it is better to purchase when rates are rising, especially in a high-unemployment, soft economy.

We are happy about the prospect of having the LL agree to cut our rent by 55%. That's more money we can put towards a down payment on a house. If LL doesn't go for our offer, we don't let anyone in and we tempt him to evict us, but would he? At that point, would he keep our rent or would he "hand over the keys" to the bank. If he "walks away" (has he already?), bank would try to evict us (or maybe try to be our LL for a while, or offer cash for keys), but that would give us several months to purchase someting.

What I hear you saying is that we need to move so that we can stick it to the landlord. I do appreciate your anger, but my interest is (i) staying here until the spring so our son is not disrupted (but we will move if pushed...eventually) (ii) at a low rental rate. What's so naive, lazy or clueless about that?

Ellie says that the bank doesn't care that I am taking care of the house. Katy, I think, would disagree (they took pictures and if they revealed blight, the bank would have taken possession. They might this spring if they finalize the judicial foreclosure, however; but that's ok.

Also note that the lawfirm representing JPM is one of two firms under investigation by Senator-elect, Conn. Atty General Dick Blumenthal. I believe that landlord thinks that JPM has a non-owner occupied version of HAMP.

The suggestion that we should enter into a ridiculously priced rental agreement for a long term just prior to the Landlord's "handing over the keys" to the bank, or just prior to the judge's final foreclosure ruling, is an interesting idea which I vetted on Patrick.net several months ago. One problem is that this lease is not recorded and is subordinate to the mortgage, in theory, so, upon foreclosure, the only protection would be the state and federal laws not to evict in winter, 90 days, etc. Might be worth a try, but might just better to buy something else at that point.

elliemae says

Katy’s pissed, and you should hire her (him) to represent you… except for one thing:
You don’t need representation. You need to find another place to live. You are on a month to month agreement, and the bank can evict you.
Don’t flatter yourself thinking that they want you to occupy the house. They don’t. They don’t know you, and they aren’t receiving any money from you whatsoever. You are paying the rent to a man who is laughing his ass off as he doesn’t spend it on silly things, like taxes & insurance & the loan.
You’ve been told multiple times, in multiple ways, that you’re dumb as sand if you continue to pay the rent on this place. You insist you’re not a deadbeat - but your landlord is and he’s enjoying spending the money you’re giving him. He’s keeping it all.
You have no chance to buy this house.
You do have one other option, tho. I’ve heard tell that if you have a rental agreement the bank has to honor it when they take possession of the house. Meet with your landlord and pound out a rental agreement that allows you to stay on for a ridiculous amount of money ($350/month sound good?) until next summer when school’s out. It’s worth a try.
No matter what you do, please try to understand that the bank doesn’t know, nor does it care, about you and your family. The bank doesn’t care if you are uprooted in the middle of a school year. It also doesn’t care if you pay for heat, or shovel snow. The bank is foreclosing on it and you are caught in the middle

I am pissed and bored and my new hubby is always working,..and so here I sit with my sexy self thinking I might as well be of some help .( or at least think I am.)

Great stuff Elliemae, but i do know for a fact that the banks right now would much rather have someone in the house than it be empty, squated in and vandalized, when it's part of the shadow and not on the market.

you are right no-one really care cares but they do see it as a money saver for upkeep ( no winterizing needed, grass, roof leak ect ect) .

tenant in foreclosed house says

I really appreciate all the advice. I think you guys are missing something, however. We are not “lazy”, scared or clueless for not wanting to move.

sorry didn't mean to offend, just trying to help, my anger comes out in different ways. these are tuff times for everyone,...... but landlords do think of tenants this way IMHO.
wish you the best.

Katy - You didn't offend, I promise!, I was just trying to write super clearly to make it easier for casual readers who might not have been paying as close attention.

I'm sure I will still need more of your advice! You've given great advice, especially the stuff about we're never going to own it & the bank using the photos to its advantage.... :)

tenant in foreclosed house says

Zeit - why did we not stop paying rent? Because we have a contract. We are not deadbeats. We may renegotiate, however.

Does a contract to rent a house apply when the person you are paying the rent to no longer owns the house? I would think not. If I were being swindled out of my money, and I discovered the scam and refused to continue participating, that wouldn't make me a "deadbeat".

True, Gameisrigged, philosophically, but, at law, he is the owner of the house until foreclosure is complete (we are in a judicial foreclosure state -- until the process is complete, he is the owner and has to pay the taxes). Thank you for your comment.

Tenant you come at a good time for me. just when I was beginning to think this forum( housing market) had lost its usefulness due to angry polorized humans. (you know who you are.)

I awoke in 2005 (fog a mirrior days) and have been a lurker on patrick ,studying ,reading ,learning and pushing friends , family,and strangers to this site, in one form of another, since.
I even started a property preservation business thinking I was ahead of the curve and on to something big. (not even close.)

I just started posting.

I rarely get to see a real question that I think I can answer and help with.

i hope in the future more people come to this site for help.

and I hope those of you out there who can offer good advise do so, and do it with the right intentions.

Thanks Patrick! ( like he is reading this.) you may never get wealthy doing this, but I wish you would in some way.

cheers

tenant in foreclosed house says

I really appreciate all the advice. I think you guys are missing something, however. We are not “lazy”, scared or clueless for not wanting to move. We don’t want to disrupt our son, who just started kindergarten, for a while. What’s the hurry? — the housing market continues to soften. As Patrick says, it is better to purchase when rates are rising, especially in a high-unemployment, soft economy.

It appears that the people on this board all seem to agree that you're not a lazy bum. But, once again, you are paying a guy whose home in in foreclosure and has little incentive to do anything more than collect the rent. He's obviously not applying it to the loan.

So far as taxes, he's responsible for them. But he's probably not paying them either. Whether he's a bum, or just a desperate guy getting dollars where he can, he probably doesn't care that he's racking up bills.

But he's the owner right now, and can evict you if you don't pay. It's worth a try to get him to lower the rent by telling him that you're looking elsewhere, because it sounds like he's at the end. He probably can't find another renter right away before he loses the place.

The bank might like that the house is occupied... but they're gonna foreclose anyway. It's doubtful that they'll delay the foreclosure because you're there, and they have no incentive to work with you. They'll sell the place to the highest cash bidder on the courthouse steps.

So you're stuck in the middle. You have no position there.
Nomograph says

Why are you involving yourself in someone else’s business? You are renting a house, nothing more. Forget about buying it, forget about the bank, forget about your landlord’s possible motivation, and just mind your own business.
If you want to buy a house, find some RE agent to drive you around house shopping in their cheesy Escalade with the cheesy gold trim package.

Nomo's right.

Katy Perry says

elliemae says

you’re a bleading heart liberal Dem pinko . Ha ha I am too!
peace
awww, for a pop star you are quite down to earth

and for a dog your command of the English language is second to none and you type..

I'm an Australian Shepherd... it's almost English.

tenant in foreclosed house says

True, Gameisrigged, philosophically, but, at law, he is the owner of the house until foreclosure is complete (we are in a judicial foreclosure state — until the process is complete, he is the owner and has to pay the taxes). Thank you for your comment.

Well I'm still confused. Your earlier comment implied that you were taking a MORAL stand as opposed to a legal one. If your only concerns are legal, what is it that you are afraid will happen to you if you stop paying the rent?

I don't believe they know jack about the ins and outs of your deal with your landlord nor does it matter, what makes you special? You are renter that is offering to buy. but of course it has to be a ARMS LENGTH transaction that would not be fair just because you are the current renter, why should you get FIRST CRACK AT IT, let it go MLS (if you wanted to buy it that should have been before he was in default) The picture thing is way overblown, unless you know the persons in any photo no one will recognize your wife or child from any photo, not to mention the picture was likely for address and overall view of type, condition, and to help value the home for the setting of the REO amount. Not likely going to be any best seller, and photoshop and Blur and wala your wife is just a figure and no harm.

It would not be fare if the home was not offered on the MLS, Just cause you rent it, so.... what really.... in five years you will be glad you did not buy it! They are doing you a favor and in that, they are not doing it for you as again you are but a renter in a home that is going to be REO'd at some point.

You are not party to the TRANSACTION period... Move out when they tell you to, enjoy the free rent (when you stop paying the bum, instead of paying him the rent pay the bank the rent maybe they will let you rent for a long time)

gameisrigged says

True, Gameisrigged, philosophically, but, at law, he is the owner of the house until foreclosure is complete (we are in a judicial foreclosure state — until the process is complete, he is the owner and has to pay the taxes). Thank you for your comment.

Well I’m still confused. Your earlier comment implied that you were taking a MORAL stand as opposed to a legal one. If your only concerns are legal, what is it that you are afraid will happen to you if you stop paying the rent?

I was responding to your statement that he is not the owner (you wrote: "Does a contract to rent a house apply when the person you are paying the rent to no longer owns the house?"). I didn't say my only concerns were legal. We're at a legal & moral crossroads!

To answer your question ("what is it that you are afraid will happen to you if you stop paying the rent?"), I'd be concerned about my reputation, but not a ton. My lease also says that I'm responsible for attorneys fees if he sues me for breach, which he could, I suppose. I'm not going to be a squatter, although I can foresee the time when we've stopped paying rent in connection with a challenge to an eviction.

Nomograph says

Sound like a good plan?

It sounds like pretty much the worst plan ever. Why do you want to turn someone else’s problem into your problem?

However, you seem determined interject yourself in this mess so go right ahead. Have fun.

OK, Nomo - what is your advice again? Is it to move out? Well, I've already said that we're not ready to move yet. Is it to stop paying rent and become a squatter? I've already said that I will not be an indefinite squatter. Is it to let the realturds and strangers into our house unfettered? We will not allow that. Is it to bar anyone from entering and invite an eviction? We would be ok with that -- it would give us a few months to find something. Isn't getting a 55% discount on rent close to not paying, so why is it the "worst" plan ever? By paying rent, we hold onto our "right of first refusal" which would deter people from making offers, which means that there's no competition for our offer. Yes, I am believing that the prospect of owning is low for the reasons Katy and others are suggesting, but paying rent (and maybe 55% off if we let a few realturds in to show it -- but will they?) and preserving our lease gives us some protection in the courts.

I won't speak for Nomo, but the part of your plan that doesn't seem well thought out is that you can negotiate in good faith with your LL. He clearly doesn't care about your interests and will almost certainly string you along..

tenant don't listen to any talk that even sounds like you're not 100% percent in the drivers seat.

The landloard works for you at this point (he doesn't realize this yet.)

you have many options. choose what is right for you and your family.

good luck.

tenant in foreclosed house says

gameisrigged says

True, Gameisrigged, philosophically, but, at law, he is the owner of the house until foreclosure is complete (we are in a judicial foreclosure state — until the process is complete, he is the owner and has to pay the taxes). Thank you for your comment.
Well I’m still confused. Your earlier comment implied that you were taking a MORAL stand as opposed to a legal one. If your only concerns are legal, what is it that you are afraid will happen to you if you stop paying the rent?

I was responding to your statement that he is not the owner (you wrote: “Does a contract to rent a house apply when the person you are paying the rent to no longer owns the house?”). I didn’t say my only concerns were legal. We’re at a legal & moral crossroads!
To answer your question (”what is it that you are afraid will happen to you if you stop paying the rent?”), I’d be concerned about my reputation, but not a ton. My lease also says that I’m responsible for attorneys fees if he sues me for breach, which he could, I suppose. I’m not going to be a squatter, although I can foresee the time when we’ve stopped paying rent in connection with a challenge to an eviction.

Your reputation in whose eyes? Your landlord? Do you really care? It would be interesting if he sued you and it came out in court that he has defaulted on the loan and isn't paying his mortgage. Are you really concerned that you would lose that case? I'm not going to give you advice, but I find your attitude puzzling. You seem to apply "morality" rather selectively. You don't seem to have any qualms about gaming the system to try to get an inside deal on buying the house, or to get a rent reduction, yet you seem to balk at the idea when it involves not paying your rent. But then you go on to say that not paying the rent wouldn't bother you if it were a "challenge to an eviction". It all seems really inconsistent.

gameisrigged says

Your reputation in whose eyes? Your landlord? Do you really care? It would be interesting if he sued you and it came out in court that he has defaulted on the loan and isn’t paying his mortgage. Are you really concerned that you would lose that case? I’m not going to give you advice, but I find your attitude puzzling. You seem to apply “morality” rather selectively. You don’t seem to have any qualms about gaming the system to try to get an inside deal on buying the house, or to get a rent reduction, yet you seem to balk at the idea when it involves not paying your rent. But then you go on to say that not paying the rent wouldn’t bother you if it were a “challenge to an eviction”. It all seems really inconsistent.

yeah hello! this stuff isn't cut and dry, there is no "right" way. he is figuring it out now for himself. this is the process. this is what it looks like when you're working it out, and evaluating your options, asking questions, and doing what is best for your family

So Respect the process of learning and understanding this situation.

Hey guys, a few things here:

I live in Connecticut and have read the laws - you MUST CONTINUE TO PAY RENT, EVEN IF THE HOUSE IS FORECLOSED UPON.

By paying rent, you are guaranteed the bank cannot evict you from the house for at least 90 days after they foreclose.

Another thing:

Why in the hell are you doing yard work, paying for maintenance and upkeep on the house, and even putting 1 second of your time or energy into it? This is the landlords reponsibility, full stop. If the landlord won't do it himself, find another place to live because why should you maintain a property that somebody else owns?

Another thing: THE LANDLORD CANNOT FORCE YOU TO LET HIM SHOW THE PROPERTY.

All he can do is drive people around and look at the outside, tell them "my tenant is still living there", and let them make an offer.

Landlords have the legal right to enter your property only in an emergency situation - pipes burst, fire, flood, or other disaster. For all other situations, they must request access, and you can tell them no.

Storm, Thanks for your note.

Yes, if I stop paying rent, I have less power in court and my rights in the lease would end. I have a right of first refusal on offers. That provision should scare people away. We are not confident that the short sale thing will work, so, for the next several months, we are ok with trying, but if not, then we'll buy something (maybe the market will have cleared more by then).

My negotiated lease provides that I am responsible for landscaping. I take pride in where I live and have friendly neighbors who maintain their properties well.

Also, you are correct that he cannot force us to let him show the property, and indeed, our lease provides as such. It also is terminable upon two months' notice, so if I don't let him show it, I expect he would try to evict us.

Nomo, I don't think you fully appreciate that we have been honoring our lease and continuing with our lives, but that it is the Landlord who has threatened breach of the lease by listing it and marketing it to purchasers. The lease has a "no listing" provision. If he wants me to waive it, he's got to pay for it. So, if I understand you correctly, if I were to take your advice, I would be a pushover.

Katy Perry says

yeah hello! this stuff isn’t cut and dry, there is no “right” way. he is figuring it out now for himself. this is the process. this is what it looks like when you’re working it out, and evaluating your options, asking questions, and doing what is best for your family

So Respect the process of learning and understanding this situation.

Huh? Aren't you the one that went off on a rant and called the OP "lazy"? Yeah, respect indeed.

I appreciate EVERY comment on this post. Thanks to all. I'll keep you posted (which means LL didn't get back to us yesterday...maybe he will make his decision next month, or maybe the month after...)

I need a drink.

Sometimes these treads get a little off track. I expect to be talking about Natzies soon,.....see, see what happens.

Thanks, Roberto, I appreciate your advice. As a corporate attorney, I am familiar with the concept of anticipatory breach which I will keep in mind.

In the mean time, if he doesn't go along with my proposal (anticipatory settlement?), that necessarily means that he intends to list and show the property, thereby breaching anticipatorily. I'd probably have to prove anticipated damages in any lawsuit for injunctive relief. It would be a challenge to prove and monetize my loss of 'quiet enjoyment' of my home.

tenant in foreclosed house says

Thanks, Roberto, I appreciate your advice. As a corporate attorney, I am familiar with the concept of anticipatory breach which I will keep in mind.
In the mean time, if he doesn’t go along with my proposal (anticipatory settlement?), that necessarily means that he intends to list and show the property, thereby breaching anticipatorily. I’d probably have to prove anticipated damages in any lawsuit for injunctive relief. It would be a challenge to prove and monetize my loss of ‘quiet enjoyment’ of my home.

You're an attorney? That explains alot. You're intellectualizing (aka mind fucking) this whole thing a bit too much. IMHO your landlord is enjoying your rent while you're stressing over this whole thing - and in the end you'll still move.

ditto elliemae

That does explain a lot, if not everything. Do what can be done to get your deposit back and leave. If you can't get back your deposit (likely), still get out of there. You are this torqued over a drive by photo? For your own sanity, get outta there! I am easily torqued so I'm telling you: this is a net loss situation - your efforts will be for naught. You already know LL is broke. Write your letters. Make your threats. But it is only for sport b/c you know quite well how this will end. Forget the drama. As for your child, if you have to move "out of district", drive him to the school to finish out the year.

Thanks Roberto, Ditto and Elie.

At this point with all your advice (and Katy's et al.), we've let the property go (in our minds) in Katy's words. Now we're emboldened and empowered. My friend told me on the phone that all this is stressful, but dittomichael used the word "sport" which kind of hit a nerve with me. Not sure if that word captures it all. Maybe "challenge" or "opportunist"... any others?

Yeah, stressful, but my motivation is not to deprive a landlord from his unjust enrichment. My motivation is to live much less expensively until we purchase something this winter or next spring.

I want him to pay his property taxes because our son is in a very good public school (or that's its reputation among homeowners here in town. they talk up the schools all the time!) and I want to be able to say, morally, and to my neighbors that we are not freeloading off of the town. With our lower rent, he can still pay taxes. I think he is on some sort of payment plan with the Town -- we still need to check.

We're not interested in moving -- but will if we have to -- any time soon because my wife had wrist surgery two days ago (and I worked from home with my laptop, my 5 yr old hanging off my shoulders and a 14 month old hitting the "q" key while I'm drafting investor agreements) and will take a few weeks to recover. A bunch of other reasons, too, the details of which are not so relevant.

tenant in foreclosed house says

I want him to pay his property taxes because our son is in a very good public school (or that’s its reputation among homeowners here in town. they talk up the schools all the time!) and I want to be able to say, morally, and to my neighbors that we are not freeloading off of the town. With our lower rent, he can still pay taxes. I think he is on some sort of payment plan with the Town — we still need to check.

It's highly doubtful that he's paying the prop taxes. If you pay them yourself, you're crazy. Not your problem. Don't discuss it with the neighbors and the moral problem vanishes. You're paying rent to a guy who's pocketing the proceeds and you should just accept it.

Not your problem. We're beating a dead horse, here. Good luck.

I am please to say that we just closed on a three-bedroom home in the CT town we grew up in but couldn't afford four years ago when we moved back to the region from Boston as renters (in what became the house in foreclosure shortly after we moved in!).

We put down over 20%, locked in at 4.625 on a 30-yr fixed a few weeks ago (shoulda waited until this week to lock in -- have you seen the 10-yr treasury's plummet over the last two weeks?)

I don't know what our former landlord is going to do now. The oil burner (boiler) needs to be replaced. He needs to find a tenant, but first needs to make a LOT of repairs and paint inside and out. Will that prospective tenant do their due diligence and find out that he is in the foreclosure process?

Landlord was thinking that JPM would reduce his balance on the house (and on his nearby primary residence, which is also in foreclosure), but wouldn't that be absurd? (I want a modification on my stock account -- where do I get me one of those?)

Congratulations.

Thanks, FortWayne!