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    KRflynn's Avatar
    KRflynn Posts: 1, Reputation: 1
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    #1

    Nov 28, 2010, 07:49 PM
    Foreclosure question
    The apartment I'm living in right now is being foreclosure.. my previous landlord calls and says that he's trying to get his brother, cousin or friend to buy the house in short sale.. I've talked to the other tenants in the house and we all got different stories. Just a day ago my previous landlord said that he will be collecting rent again. I don't believe him. I would like to know how long is a short sale and if I should start paying rent?. I also ask him to show me proof that the house is own my his brother, cousin or friend I just don't know what to believe. Im unemployed and have two small children... I don't know what to do... Help Please...
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Nov 28, 2010, 07:59 PM

    He is not the "former Landlord" he is the current landlord till the bank sells it at the foreclosure sale. And you owe rent up till that day.
    It can take a few months to a year or more for a foreclosure to happen.

    The last few short sales I did took 4 months and 5 months for the bank to agree to the sale, and then another month for it to happen
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