Quote:
Originally Posted by tabs
Have a friend here in LV, with a similar situation. Rented a Condo in the Marie Antoinette HR in early 09, unit got foreclosed upon in early 2010. Friend did research found the bank holding the mortgage and contacted them. NO GO they would not even talk to him, and as he no longer has anywhere to send a rent check....HE HAS LIVED IN THE CONDO FOR 4 YEARS WITHOUT PAYING RENT.
The bank probably doesn't even know my friend exists, and that they think the unit is vacant?
It seems no body cares?
There is a lot of shadow inventory sitting out there...some of it is owned by the FED.
One only can imagine how much inventory is sitting on the books for a bank to not even care?
Now folks tell me everything is just swell.
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That happens a lot. Banks probably are probably satisfied to have someone watching the property and paying utilities. Abandoned homes rapidly deteriorate.
To OP, if not forclosed, its probably easier to offer current owner enough for a clean closing, to pay off loan. They get out of dept, the bleeding stops. If they won't sell, I'd probably stop paying rent (burn up your security) and look for a new place to live.