Forclosure on the house I am renting.

Posted by Joe on February 13, 2003 at 19:42:06:

Just an hour ago I was hand delivered a letter ( by my landlords 12 yo daughter) stating that my landlord is being forclosed on , and I have 30 days to leave this property.
here is the re typed letter:
I regret to inform you both that I am in the process of being forclosed uponand I have to give you a 30 day notice to vacate the house. I fell behind on the paymentsand the morgage company called the note on the property. The Morgage company has arranged to auction off the house this month. However I still have a redemption perion of 30 days. I tried to make arrangements to keep the house but was unable to do so because I was too far behind on my morgage payments.

I would rather sell you the house and have you all stay there. Just as I stated before. I have enough equity in the home to help pay for the closing costsand the downpaymentfor you as well. I can also help find the financing on the home. I would like to deeply apologise for any inconvenience I may be causing you.

Please let me know what direction youwould like to proceed in. You can reach me at ........

End letter

This house is in New Mexico , I have a lease untill may of this year.

I also do not have the money to move in this short of time, and our credit in not good. I would like to buy the house if possible , and financing can be arranged . But I dont really know how to take the letter.
Can he still sell me the house , and what rights do I have as a rtenter with a lease if he cant?

Follow Ups:

• Re: Forclosure on the house I am renting. - tony 22:55:55 02/13/03 (0)

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Comments:
: Just an hour ago I was hand delivered a letter ( by my landlords 12 yo daughter) stating that my landlord is being forclosed on , and I have 30 days to leave this property.
: here is the re typed letter:
: I regret to inform you both that I am in the process of being forclosed uponand I have to give you a 30 day notice to vacate the house. I fell behind on the paymentsand the morgage company called the note on the property. The Morgage company has arranged to auction off the house this month. However I still have a redemption perion of 30 days. I tried to make arrangements to keep the house but was unable to do so because I was too far behind on my morgage payments.

: I would rather sell you the house and have you all stay there. Just as I stated before. I have enough equity in the home to help pay for the closing costsand the downpaymentfor you as well. I can also help find the financing on the home.  I would like to deeply apologise for any inconvenience I may be causing you. 

: Please let me know what direction youwould like to proceed in. You can reach me at ........

: End letter

: This house is in New Mexico , I have a lease untill may of this year. 

: I also do not have the money to move in this short of time, and our credit in not good. I would like to buy the house if possible , and financing can be arranged . But I dont really know how to take the letter.
: Can he still sell me the house , and what rights do I have as a rtenter with a lease if he cant?


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