posted on Sep, 4 2012 @ 02:32 PM
I just had lunch with a friend. As it turns out he's very angry because he got a five day notice on the door to his house. He has five days to move
out his entire family, his wife and four kids, because the bank will foreclose on his house and sell it to action. (Note: this is not me as I am
completely single at this time.)
He has been making one thousand dollars a month in rent to buy it for a few years now.
So what happened?
As it turns out the people he was buying it from weren't making any payments to the bank. They pocketed the money for themselves so the bank is
foreclosing on them. This seems to be happening to several other people in town and may be more widespread across the nation.
So, it sounds like that in order to prevent the bank from foreclosing on others in this manner, one has to watch out and make sure that the owners are
making payments on the house for you.
But I'm not sure how this could be done, other than to hire a detective of some sort to investigate the owners.
So the question I put to you is, how can we take steps to make sure that the payments are being made by the owners that won't get you in trouble? And
if that's not feasible, could there be a legal way to bypass the owners and make the payments to the bank?