We have our investment property for sale because we cannot make the payments anymore. The renters are 5 months behind with rent & are now squatters. We are trying to evict them but it’s costing even more money. We’ve had an offer which was submitted in December. The lender has replied this week stating they will consider the offer but we may have to give them the difference in what is paid to what is owed. Can they do that? We’ll be bankrupt.

Passive Income

We are trying to short sale our house and were approached by some people from up north that wanted to buy some property here in Florida and rent it out or a copule of years. They offered to buy our short sale house if we would sign a 2 year lease and rent from them. At the end of the 2 years they would like to either move into the house, or sell it, possibly back to us at the appraised amount. Can this be done? I have only heard of this as an issue of having family buying a short sale so their family members can stay in their own house by renting it and then maybe buy it back when it could be afforded.

Rent Back

I have a rental property and the rent is not enough to cover the mortgage. Can the renters stay while its on a short sale?

Passive Income

my friend lives in a rent home. the owner stop pay the mortgage because they no longer want the home. My friend is interested to buy the home since she already lives there. The owner tells my friend that he is going to put the house on short sale so she could buy it. The short sale process has not yet started . my friend still lives in the house waiting on the short sale agreement with the bank.

well , yesterday some people came to the house saying the bank told them to put a lock on the house doors. but because my friend was there the guy say they cannot change the lock since someone is living n the house. so they took my friends name and tell her the will forward the Information ( that someone is in the house) to the bank.

i think the house is now in pre foreclosure

my question is what will the bank do next? will they kick my friend out the house immediately? should my friend stay in the house til the short sale agreement or the bank says something?

Sell and Rent Back