Posted on: 04th Sep, 2009 02:01 am
I want to rent an apartment and the owners are saying, no money down and no credit check. Rent to own option and the place is in default status. Tell me what this sounds like?
Hi Shurm,
You've mentioned in your post that the property is in default status. That means the lender may foreclose the property if the mortgage dues are not cleared. Before renting the property or going for any kind of deal, you can have a word with the lender and check out the status of the property. In my opinion, it would be better if you could check out some other properties and see if you can rent anyone of them.
Take care.
You've mentioned in your post that the property is in default status. That means the lender may foreclose the property if the mortgage dues are not cleared. Before renting the property or going for any kind of deal, you can have a word with the lender and check out the status of the property. In my opinion, it would be better if you could check out some other properties and see if you can rent anyone of them.
Take care.
well, shurm, don't get too enthused about speaking with the lender. unless you are a party to the loan in question, they cannot legally discuss it with you. insofar as your renting from the current owners, that means they'll take your money and run with it, particularly since it's beyond the point where they'll benefit from making payments to their lender.
sara's last line summarizes my attitude as well: go find a new place to live.
sara's last line summarizes my attitude as well: go find a new place to live.
