Need Help Asap- sort of long -mortgage brokers in Ohio Comment?

[bws]

[HHM]

First, just because the house is being sold, doesn't necessarily mean you will be evicted. Also, you will not be liable for any Mortgage, Insurance, or Property Tax as a renter.
Also, look at it this way, you can probably stop paying rent. (and make back that $3,000 in two months. If the landlord is crooked, then he is unlikely to start an eviction proceeding. So at the very least, you can save December's payment (unless you already made it), and January's. Plus, I bet you will be able to live in the house 'till at least February.

I tend to agree with your broker, it will be difficult for you to do a 100% LTV (loan to value) mortgage in your circumstances. It's not just the late payment, but you're also less than 2 years from discharge. Since your less than 2 years from discharge, you will be sub-prime no matter what.

Honestly, if I were you, I would live in the house, and not pay rent, until you are evicted and then go rent someplace else. Or perhaps work something out with the whoever buys the house at auction. Actually, you may be able to work something out with the bank that is holding the mortgage...who knows, they might let you buy the house your living in at foreclosure (for legal reasons, the house will have to go to foreclosure sale), and simply allow you to assume the existing mortgage.

[CindyLou]

I agree. Stay there and don't pay rent and get your money back!!

[bws]

Nice thought but -

According to attorney, 3 days after sale they can serve eviction notice to be out within 10 days- I have a family and cant take the chance to see if new owner will lease or give us time, Also paid December, Landlord still owns the property and his lawer sent us a letter stating they would hold us to lease untill he no longer owned the property. Seems people who abuse the system know all the loop holes- I am going to try my best to get some kind of subprime over the next week and then start looking for a new rental- Bws