Thursday, May 29, 2008
Not just the Landlords suffering.
CNN.com/living: Man pays $30K in rent, faces eviction
Charles Nelson has paid about $30,000 in rent since moving into a spacious four-bedroom home in August. He was stunned when a real estate agent knocked on his door recently and said the home was in foreclosure.
His landlord had not paid the mortgage since he moved in and the bank is now demanding the house back. Nelson will also lose his $7,700 security deposit.
When he confronted the landlord, he says, he was given a terse response: "That's none of your business."
Other victims of HPC to think about !
Posted by plato @ 06:49 PM (365 views) Add Comment
6 Comments
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1. montesquieu said...
Suspect there's going to be a lot of this soon. I recently had someone round to attempt to reposess my landlord's van. Had to prove I wasn't him. Nasty.
2. Got Crash? said...
We have already had to move three times in less than three years due to landlords not paying the mortgage on apartments in Manchester city centre.
In every case the landlord had a tennant's mortgages rather than a buy-to-let mortgage.
These people are both stupid and dishonest; but sadly many other people will suffer for their greed.
3. Adrian said...
2nd hand carpets, curtains, and kitchen cupboards can go a little way to repaying the deposit.
4. plato said...
Got Crash @ 2
Really sorry to read this. It didn't really occur to me before seeing this article as I basically just hadn't considered this fact.
I'm afraid we can always expect stupidity from dishonest types as they measure intelligence with money and exchange conscience for self gain.
5. whiteknight said...
Oh i have been waiting for this one.
Credit check the landlord AND the estate agent.
Actually i wasn't really. Conventional credit check isn't worth the paper it is written on because it looks at the wrong things for these times.
Next time i open a bank account I am going to ask the bank to supply a reference. See the look on the managers face.
6. Alien Conspiracy said...
Er, if he moved in last august, surely (by law) his deposit should be in the hands of a guaratee scheme?