selling a home

[chrissy_tiffy]

What is the name of your state? california
i am selling my unit in a condominium to someone i know. she knows a real estate broker so we both are using that broker. i was instructed by the broker not to pay my house payment for december and here we are in january. the broker has now told my buyer that she can't get her loan because only 25% of the condos are owned and not rented. i am now dealing with two months behind on my house payment and they are wanting to foreclose now and this is all ending up on my credit. what legal rights do i have?

 

[HomeGuru]

What is the name of your state? california
i am selling my unit in a condominium to someone i know. she knows a real estate broker so we both are using that broker. i was instructed by the broker not to pay my house payment for december and here we are in january.

**A: that broker is an idiot. No broker should be telling a Seller not to make a mortgage payment.
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the broker has now told my buyer that she can't get her loan because only 25% of the condos are owned and not rented.

**A: this is a standard criteria under the RR105C. Mortgage lenders do not want to finance if the owner/occupant ratio is so low.
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i am now dealing with two months behind on my house payment and they are wanting to foreclose now and this is all ending up on my credit. what legal rights do i have?

**A: so what is the problem? When Dec 30 came around you should have paid your Dec mortgage payment. And since this is Jan, your Jan payment should be paid as well.

 

[chrissy_tiffy]

The problem with the two months rent is that i was counting on that money. i was not working for that period of time (my work depends on the weather and we got a lot of rain recently) and I am paying rent at the place i am in now. My buyer has been living there and has put a lot of money into decorating so if i have to make her move i will also owe her.

 

[HomeGuru]

The problem with the two months rent is that i was counting on that money. i was not working for that period of time (my work depends on the weather and we got a lot of rain recently) and I am paying rent at the place i am in now.

**A: so what, sorry, those reasons will not be acceptable to the mortgage lender.

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My buyer has been living there and has put a lot of money into decorating so if i have to make her move i will also owe her.


**A: unless you agreed to pay for the decorating, you do not owe the Buyer anything. Why did you let the Buyer move in anyway without closing the deal?
You really got yourself in a heap o mess, big time.