All Forum Posts by: Steve Babiak

IMO, the OP is fortunate that this landlord isn't viewing this thread; if he were, he might have a change of mind ...

When I have been in eviction court, usually they want to see what was due in full amount and when. From that, they subtract the amounts that were paid in partial fulfillment, and then your judgment is set based on result.

The math is just what you have shown; it's just how it is "presented" that will matter, and as MikeOH says, it varies all over the place.

So in your example, you would get a judgment for $1000 as you might hope.

This has more to do with what is "the law" where your rental is located. In some jurisdictions (example given by MikeOH), accepting partial payment hampers a landlord's ability to evict; in other places, accepting partial payment just reduces the judgment that would be given to the landlord at eviction. You will have to be familiar with your locality's Landlord Tenant laws; or, consult with a local attorney.

I did agree regarding getting the judgment, and that if this did go through a "normal" type of closing, that the second would stand up wanting to get paid - and would need to be paid.

And that second being present almost certainly leads to this being a short sale or no deal; I don't think there is much else that can happen here other than default and foreclosure.

That potential for mortgage fraud is still there. From what I understand, there were several places where unethical types took seconds and did not record. As I understood this, the purpose of those seconds was to provide the appearance to the first position lender that there was some cushion of equity; this deceiving the first position lender is where there is possibility of fraud.

Becky,
Welcome to the site.

You might want to review what your link in the signature looks like; looks like it's a busted link right now.

But this is a matter for title attorneys to handle, and the OP should be getting proper legal counsel if pursuing purchase of this property.

The one who received a mortgage that is potentially fraudulent is the seller that you are dealing with, not that original seller. That original seller was a party to this potential issue by failing to record his second position.

What needs to be cleared up? My guess is you are looking to get this as short sale. That unrecorded second is not going to get any consideration in that, because it does not "exist" in the public records. If it goes to foreclosure, that second might not even be given notice of the foreclosure sale, again because it is not on the public record; and if that were the case it gets wiped out.

The only situations I am aware of where a re-painting was required was by the Housing Authority for Section 8 tenants, during the annual inspection of premises. If you're not in Section 8 program, Jon is on target; it was a new place, you were the only occupant, you caused the carpet to be nasty - you are responsible for that to be kept in good condition. With the settlement issues, you might find your landlord willing to listen, but the landlord isn't going to be so pleased to do upgrades after a rent reduction, IMO.

The unrecorded second is sometimes placed into a category called mortgage fraud.

Your seller is the one with that trouble, though.

One other expense that is incurred when purchasing real estate, depending on location, is Real Estate Transfer Taxes.