Here's the scenario: A couple is moving to a job change and have secured a house for rent in their new city. They have their rental application has been accepted, paid security deposit and first month's rent, furniture and cars packed. Go into all the country should move into their home. When they arrive late at night, there's a sign on the door from the sheriff. They try their keys at home and not work anyway. Their youngest son wakes up and starts to cry.
This is notwell. The couple had everything they do must have been made. Now I'm excited, anxious, and really stressed out. It wants to know what happened. Why did this happen? Who's to blame?
Suspects:
The Property Management Company (code name: "Mr. Smooth Talker") The owner of the house (code name: "The Quiet O") The banking system (code name: "The Man")
# 1 Property Management Company
Mr. Smooth Talker (Mr. ST) was willing and able to do everything for youif you are on the phone (before the signing of the lease) is spoken, it seems that he had known for years! Entrance door will be fixed? Absolutely! Can move late at night? Of course not! Ceiling fans are installed in every room? Sure! Since the start of Oprah? In tears! Want to join my book club? Yes! My Amway pipeline? Registration!
Then report to the home mortgage is not paid and are excluded. How about a key that operates the Big Fella? TheirMr. ST and his answering machine lets you know that it is in Belize for the next month. He'll call and you are left in limbo.
The bottom line is Mr. ST's to blame? Probably not.
The owner usually pays the mortgage company, not the master of the house (although this is not always true).
The bank does not ask the property management company, if the mortgage back. It's called the owner for reasons of confidentiality.
Property manager, even as Mr. TS does not knowingly marketProperties in foreclosure. This is a bad deal and it would be a huge amount of redemptions and produce headaches. And life without the possibility of avoiding this confrontation with the tenants in the management company-owned homes do not.
If you've heard the owner of a property problem with payments, which usually then call the owner. When the owner says, late payments are a necessary part of the "loan modification" process do (what is), thenThis is a normal course of business and no need for alarm.
# 2 The owner of the house
They do not know these creatures of darkness who meet once a month rent from the mailbox. His name was on the lease, but that's all you know. A previous request to speak with him was rejected by Mr. ST.
It is "guilt quiet O '? Probably, but certainly not
In general, if you do not pay the mortgage on the house for rent, to have the house foreclosed Also, sometimes whenHouse payments are up-to-date, "The Man" is still displace it. "Quiet O" is then forced to solve a lot with the bank 800 # 's because their payments were not applied correctly. It's not funny!
It is "The Man" is to blame? Probably not.
Banks are usually the correct application of payments on current loans, does not foreclose. But "The Man" makes more mistakes than they are for hire. She (and / or companies that outsource "safe houses" a) change the locks of housesCurrent payments. And 'the papers. These are two apartments we have to succeed. It 'true.
There are 4 losers in this scenario:
Find a tenant does not move into the house and the other Mr. ST-charge not to deal with angry customers "The Quiet O" - no income from their investment in the rental "The man" - always move to another property at a loss on their books. If the owner does not pay, the chances are that they areor
"Lose-Lose-Lose-Lose" offers are not desirable for everyone!