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Updated over 8 years ago on . Most recent reply

User Stats

11
Posts
2
Votes
Gregory Robinson
  • Investor
  • Tampa FL
2
Votes |
11
Posts

I'm renting condo, and my unit is being foreclosed on - options?

Gregory Robinson
  • Investor
  • Tampa FL
Posted

Hello,

I'm living in a condo, that I am renting that is being foreclosed on.  My landlord hasn't been paying the mortgage.  I don't see an auction date set yet - what are my options?  Would it make sense to contact the bank and see if they will settle with me?  I could buy the place it's probably worth $345, debt is $360k + $20k.   Is there a possibility that the bank would settle for less like $300k? Anyone have any recommendations on how to proceed? 

  • Gregory Robinson
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