I know that this may not be the correct forum to ask this, but thought I'd try:
I took over a lease on a rental townhome through a property management company in February and within a month I began questioning them on whether or not the mortgage payments were current on the place. A number of things had occurred that concerned me about the property and it possibly going into foreclosure. The homeowners live in California and I do not have any contact with them so I'm unable to question them directly. The property manager told me that the owners were trying to get a loan modification, so at first I accepted that. Then I received a letter from an attorney's office and found out that they were trying to collect the balance of the loan. Now, I've just received documentation that the property is set to be sold at a public auction in July, unless the owner's take steps to prevent this. I'm wondering if anyone has been in this situtation (either as a renter or as an owner) and what has happened? Thanks.
I took over a lease on a rental townhome through a property management company in February and within a month I began questioning them on whether or not the mortgage payments were current on the place. A number of things had occurred that concerned me about the property and it possibly going into foreclosure. The homeowners live in California and I do not have any contact with them so I'm unable to question them directly. The property manager told me that the owners were trying to get a loan modification, so at first I accepted that. Then I received a letter from an attorney's office and found out that they were trying to collect the balance of the loan. Now, I've just received documentation that the property is set to be sold at a public auction in July, unless the owner's take steps to prevent this. I'm wondering if anyone has been in this situtation (either as a renter or as an owner) and what has happened? Thanks.
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