boydster
Well-Known Member
- Joined
- Apr 11, 2013
- Messages
- 2,895
- Reaction score
- 833
I've been renting a nice house for the past couple years with my wife and kids. Sure, the house has its quirks and flaws, but we've enjoyed our time here. Meanwhile, I've been working with a buddy to bootstrap a business and hopefully build something to provide a lasting and comfortable future. Long story short, we are going to be continuing the business as a secondary stream of income while we work on a plan to scale and I look forward to getting back into a "real job" on Monday that I anticipate being a good opportunity for myself and my family for a more regular kind of paycheck.
Then today, I get a knock on the door from a realtor with a printout saying the house is now owned by the mortgage company and to look out for a letter from their attorney discussing the future of the property.
We're month-to-month at this point. The letter says that we can potentially continue renting month-to-month at whatever they determine to be the market value for however long it takes them to sell the property, or opt for the "relocation assistance" program where they give us a check (amount TBD) as long as you have the place in "broom clean condition" on move-out day.
Anyone else experienced this? I'm thinking it's time to move on, because if we stay month-to-month we still have to worry about getting a notice at any point saying we have 30 days to get out AND at that point there is no relocation assistance on the table. I'm not ready to buy the place. I mean, seriously, I'm about to start a new job next week... after spending almost 4 years pouring everything into building something else. In a couple years, I think I'll be in a better place to look into home ownership, but certainly not in the next couple months.
Who's been through this? What kind of timeframe did you notice from the first knock on the door until the attorney's requested move-out date? And how generous are Fanny and Freddie with the cash-for-keys relocation program?
I'm blown away right now.
Then today, I get a knock on the door from a realtor with a printout saying the house is now owned by the mortgage company and to look out for a letter from their attorney discussing the future of the property.
We're month-to-month at this point. The letter says that we can potentially continue renting month-to-month at whatever they determine to be the market value for however long it takes them to sell the property, or opt for the "relocation assistance" program where they give us a check (amount TBD) as long as you have the place in "broom clean condition" on move-out day.
Anyone else experienced this? I'm thinking it's time to move on, because if we stay month-to-month we still have to worry about getting a notice at any point saying we have 30 days to get out AND at that point there is no relocation assistance on the table. I'm not ready to buy the place. I mean, seriously, I'm about to start a new job next week... after spending almost 4 years pouring everything into building something else. In a couple years, I think I'll be in a better place to look into home ownership, but certainly not in the next couple months.
Who's been through this? What kind of timeframe did you notice from the first knock on the door until the attorney's requested move-out date? And how generous are Fanny and Freddie with the cash-for-keys relocation program?
I'm blown away right now.