owner of house i am renting disappears off face of earth

[Kneel B4 Zod]

you just need to talk to a lawyer, unless a Nevada RE lawyer pops into this thread. laws vary by state.

[bobman0330]

Try calling the financial institution and offer to go month-to-month until they resell the place?

[Milo]

Call. A. Lawyer.

As an aside, this [censored] is going to happen a lot. When we moved to MN three years ago, the wife and I had no jobs and only 20K in the bank. Nonetheless, we had no problem getting a 90/10 loan on a $360K house, despite having no actual way to actually pay for it.

This is just one example of how [censored] up the mortgage industry was and how [censored] we all are because of the avalanche of foreclosures coming.

Fortunately, the wife and I found jobs and have no problems paying the mortgage.

[Ra_]

Another thing to thing to keep in mind is that the mortgage company can't even start the eviction process until the foreclosure is final. If I were you I'd do everything i could to drag out the forclosure/evection process while you look for a new place.

It also never hurts to contact the mortgage company and see it they would sell the house for cheap. that way they would save on clean-up, and having ot evict you. you maybe surprised what they would take just to get there money out of it.

[Kaj]

[ QUOTE ]
When we moved to MN three years ago, the wife and I had no jobs and only 20K in the bank. Nonetheless, we had no problem getting a 90/10 loan on a $360K house, despite having no actual way to actually pay for it.

This is just one example of how [censored] up the mortgage industry was and how [censored] we all are because of the avalanche of foreclosures coming.

Fortunately, the wife and I found jobs and have no problems paying the mortgage.

[/ QUOTE ]

That's also an example of how [censored] up consumers are and why it will piss me off if the government has to bail out people like you who end up defaulting. Gotta have it all. Gogogogo American suburbanites.

[C-Dog]

I agree with Kaj on the bailout. I hope the US doesn't bail people or companies out. They made the loans, let them deal with it. I don't buy the whole "They tricked me" and "I didn't know what I was doing" crap. You put that much money/credit into something you should know the score. If not, your [censored].

Of course I don't own a home, so I am hoping to pick one up on the foreclosure market, or when the bottom finally get's reached.

As for OP, contact a lawyer, and stop paying rent. Drag this [censored] out, and get your rent free life on. Seems +EV to me, and this is a poker forum, so +EV is what we are all striving for right?

C-Dog

[wet work]

LOL @ Fremont. One of my friends used them to do a sketchy no-doc loan. What the hell is some rich chic using a mortgage company that advertised on the Stern show?

My guess is the RE stuff mentioned or rehab.

[mrkilla]

basically the bank is taking back the house , move along move along

to bad you piad your rent all that time sucker I bet you could have gotten away with living rent free

My advice, move the [censored] out like now, your lease is with the owner , who uh is no longer the owner the bank is.


Hey if you stay in there maybe you can get some squatters rights enforced.

[XXXNoahXXX]

Take your time looking for a new place, don't pay anyone any rent. If they want to evict you it will take at least a month or two and since you're likely not getting back any deposits you made, might as well milk a couple free months rent to even things out.

[cbloom]

[ QUOTE ]
I agree with Kaj on the bailout. I hope the US doesn't bail people or companies out. They made the loans, let them deal with it. I don't buy the whole "They tricked me" and "I didn't know what I was doing" crap. You put that much money/credit into something you should know the score. If not, your [censored].


[/ QUOTE ]

The fact is they did lie or mislead a lot of people who don't really understand finance, which is borderline illegal if not actually illegal (very hard to prove). What's worse they repackaged the mortgages and sold them with bogus credit ratings that didn't reflect the risk, which means that even without a bailout the mortgage companies aren't the one paying for their mistakes, pretty much every financial institution is paying, which trickles back out and affects almost everyone in the US.