Landlord wants to break lease early for her own personal reasons

[FarmerJ]

Lenders are still bound to respect some privacy and any attemps by other parties to have any discussions at all with lender about some one other than the account holder can earn lenders legal problems.

 

[sandyclaus]

Having worked for a mortgage banking company for many years, we were all about protecting our customer's privacy and restricting access to the borrower's account information only to those who were authorized to have it.

That being said, there's nothing that prevents OP from providing information to the lender that may or may not affect the borrower's account or loan status. The lender shouldn't confirm or deny any information about the account, but they can certainly listen and document information provided to them by a third party. What the lender does or doesn't do with that information from that point forward is entirely up to them.

 

[LdiJ]

Having worked for a mortgage banking company for many years, we were all about protecting our customer's privacy and restricting access to the borrower's account information only to those who were authorized to have it.

That being said, there's nothing that prevents OP from providing information to the lender that may or may not affect the borrower's account or loan status. The lender shouldn't confirm or deny any information about the account, but they can certainly listen and document information provided to them by a third party. What the lender does or doesn't do with that information from that point forward is entirely up to them.

I agree, absolutely. However, at this point in the game, any pertinant information that the OP would provide to the lender would just pull the LL out of the "program" even faster, which again, might not help the OP to stay in the home for the full length of the lease.

 

[sandyclaus]

I'd have to disagree with you LdiJ.

From what I can gather about the LL's situation, they have NOT even begun the foreclosure process yet. Depending on the jurisdiction in which OP lives, that process is notoriously known to take a year, and most often longer, from start to actual foreclosure. OP just began their 1-year lease a couple of months ago, meaning they should have at least the duration of the current lease term in the house before a foreclosure occurs. Even if it occurs sooner, OP would be protected by PTFA as a tenant in a foreclosed home - unless a new owner buys the house and insists on occupying the property, and even then, OP would be entitled to at least 90 days more time in the home.

This is, of course, a very complicated situation, and the LL stands to lose a lot in the bargain. Unfortunately, either the LL caused their own problems - either they entered into the program prior to renting to OP and broke the program rules, or they did so AFTER renting to OP without checking the program requirements. NONE of that matters, because OP is an innocent party in that whole mess. They signed a legally binding lease agreement with the understanding that they would be able to have a stable place to live for a year. They are perfectly within their rights to hold LL to their end of that agreement without feeling sorry for LL and the situation LL put themselves in.

 

[Searchertwin]

OP, with all the information received from others, they are correct.
1) You have every right to stay
2) You can force her to honor the lease
3) Her problems is not your problems
4) You are the innocent victim here
5) You can contact her mortgage company
6) Op may not be able to stay full term due to foreclosure
7) Do not accept compensation, ask for no sec deposit to be return nor be release from lease without penalty as this would be terrible advice. Wait, This isn't terrible advice.

What they lack here to understand, is the fact this is a home that this person is losing and she is trying to save it.

If she did not come to you asking for help in saving her home, I would agree that the LL made her own bed. She should have done her homework better. Than I would agree with everyone else, except to contact mortgage company, that just causing more trouble out of spite. But to come and ask for help to keep one’s home, is something entirely different.

You will be out in a few months, if she is forced to foreclose, or at end of lease, if you continue to “stand your ground."
Anyway you look at it, she will lose her home and you will walk away

Step outside the box and ask if this was me or my parents. What would you like to have happen?

Take care

 

[BL]

It would be interesting to know what kind of compensation the landlord/owner is offering ?

Then the tenant can counter offer as was described.

 

[Justifer]

This lady asked for help in what you said.
Maybe she went in the process the wrong way, but haven’t we all?
Don’t let her lose her house, because YOU want to be STUBBORN and STAND YOU GROUND.
Take her offer on the money, ask for deposit, and release you from the lease without penalty.
P>S> For future reference, never go the extra mile, ( like contacting a mortgage company) to get one in more trouble.
But look at the side of the what the person is going through.

Negotiate! Negotiate! Negotiate!

 

[LdiJ]

I'd have to disagree with you LdiJ.

From what I can gather about the LL's situation, they have NOT even begun the foreclosure process yet. Depending on the jurisdiction in which OP lives, that process is notoriously known to take a year, and most often longer, from start to actual foreclosure. OP just began their 1-year lease a couple of months ago, meaning they should have at least the duration of the current lease term in the house before a foreclosure occurs. Even if it occurs sooner, OP would be protected by PTFA as a tenant in a foreclosed home - unless a new owner buys the house and insists on occupying the property, and even then, OP would be entitled to at least 90 days more time in the home.

This is, of course, a very complicated situation, and the LL stands to lose a lot in the bargain. Unfortunately, either the LL caused their own problems - either they entered into the program prior to renting to OP and broke the program rules, or they did so AFTER renting to OP without checking the program requirements. NONE of that matters, because OP is an innocent party in that whole mess. They signed a legally binding lease agreement with the understanding that they would be able to have a stable place to live for a year. They are perfectly within their rights to hold LL to their end of that agreement without feeling sorry for LL and the situation LL put themselves in.

You could be right about all of the above.

However, I am not certain that you are based on the information contained in the original post...or rather, I am not certain that there is no risk to the OP in standing his/her ground at this point. At this point the OP has a cash for keys offer, which may or may not be available in the future and may or may be available at the same level in the future.

In the best case scenario for the OP, the OP will get to stay in the home for the term of the lease, with some hassle, some fighting, some stress...and that assumes that the OP is kept in the loop.

In the worst case scenario everything will fall apart just at the most inconvenient time for the OP.

 

[crazy888s]

Thanks to everyone for the input. I took it all in to consideration. Here's what has happened in the last two months:

• I went back and forth with the landlord for a few weeks, told her I would not move out
• She put the water-bill back in her name without notifying me (fine because I don't have to pay it anymore)
• The stove broke 2 months ago and it has not been fixed yet
• She moved back to town and was staying in a hotel down the street for awhile. She'd pester me about needing to send mail to "her house" and asking if I could hold it for her. She also got on me about cleaning the gutters (which was never discussed previously). I did it, but not without some hesitation.
• She needed her washer/dryer back (fine because I have some old ones sitting in my garage. it's a downgrade for me though)

Eventually, the harassment from her was enough. I decided that if she would pay for every aspect of my move, then I MIGHT consider it... but only if I can find a place that fits my needs (not easy to do). I came up with these numbers:

• Deposit returned in full so I can use it for new location ($1600)
• Official quote from a moving company: $1600 (I have some big things, i.e. baby grand piano)
• Application fees for new places
• Fees for setting up utilities at new residence (was $150 for installing TV/Internet in my current place 3 months ago)
• Compensation for time away from work and extra moving expenses (packing supplies, gas, etc)
• A few days to move, during which I will not pay double rent (i.e. rent at both places)

I started by asking her for $4950 total (which includes my current $1600 security deposit with her). We negotiated to $3750 unofficially (text messages/emails).

So I started looking for new places. I was fortunate enough to find a house that would work within a couple of weeks (it is a bit of a downgrade, but not much). She gave me the money for the application fee ($150) and I submitted the application in full this Wednesday morning (Dec 5). I've yet to hear if I got accepted (today is Saturday). Though I have heard that the application was delayed because my current landlord did not correctly send them the "Rental Verification Form". Why am I'm not surprised :S

So if I get accepted for the new place, I plan to put together a document that will void our prior lease agreement so long as she pays what we agree on. I already know she is reluctant to pay the full amount before I move out... she said "How do I know you will move out after I give you that money?" So I'm hoping the document will assure that each party does as they agree: me out by a certain date, and her giving me $3750 total before I'm out for good (she already paid $150 for the application and $1600 is MY deposit money, so $2000 remains)

I'm thinking of asking for the $1600 deposit immediately to pay for next security deposit at my new residence, then the remaining $2000 will need to be received on or before January 4th (a date she set). If I get the new lease to start on January 1, then this gives me 4 days to move to the new residence without paying double rent.

Thanks again. If this all goes through, I will be working with a Real-Estate company at my new place and NOT a landlord. I expect things will be handled much more professionally.

Gossip: a neighbor approached me about the landlord being back in town (really). I told him a bit of what was going on... he was disappointed too; he said he'd be sorry to see me go, said I was a far superior neighbor

 

[Searchertwin]

Thanks to everyone for the input. I took it all in to consideration. Here's what has happened in the last two months:

• I went back and forth with the landlord for a few weeks, told her I would not move out
• She put the water-bill back in her name without notifying me (fine because I don't have to pay it anymore)
• The stove broke 2 months ago and it has not been fixed yet
• She moved back to town and was staying in a hotel down the street for awhile. She'd pester me about needing to send mail to "her house" and asking if I could hold it for her. She also got on me about cleaning the gutters (which was never discussed previously). I did it, but not without some hesitation.
• She needed her washer/dryer back (fine because I have some old ones sitting in my garage. it's a downgrade for me though)

Eventually, the harassment from her was enough. I decided that if she would pay for every aspect of my move, then I MIGHT consider it... but only if I can find a place that fits my needs (not easy to do). I came up with these numbers:

• Deposit returned in full so I can use it for new location ($1600)
• Official quote from a moving company: $1600 (I have some big things, i.e. baby grand piano)
• Application fees for new places
• Fees for setting up utilities at new residence (was $150 for installing TV/Internet in my current place 3 months ago)
• Compensation for time away from work and extra moving expenses (packing supplies, gas, etc)
• A few days to move, during which I will not pay double rent (i.e. rent at both places)

I started by asking her for $4950 total (which includes my current $1600 security deposit with her). We negotiated to $3750 unofficially (text messages/emails).

So I started looking for new places. I was fortunate enough to find a house that would work within a couple of weeks (it is a bit of a downgrade, but not much). She gave me the money for the application fee ($150) and I submitted the application in full this Wednesday morning (Dec 5). I've yet to hear if I got accepted (today is Saturday). Though I have heard that the application was delayed because my current landlord did not correctly send them the "Rental Verification Form". Why am I'm not surprised :S

So if I get accepted for the new place, I plan to put together a document that will void our prior lease agreement so long as she pays what we agree on. I already know she is reluctant to pay the full amount before I move out... she said "How do I know you will move out after I give you that money?" So I'm hoping the document will assure that each party does as they agree: me out by a certain date, and her giving me $3750 total before I'm out for good (she already paid $150 for the application and $1600 is MY deposit money, so $2000 remains)

I'm thinking of asking for the $1600 deposit immediately to pay for next security deposit at my new residence, then the remaining $2000 will need to be received on or before January 4th (a date she set). If I get the new lease to start on January 1, then this gives me 4 days to move to the new residence without paying double rent.

Thanks again. If this all goes through, I will be working with a Real-Estate company at my new place and NOT a landlord. I expect things will be handled much more professionally.

Gossip: a neighbor approached me about the landlord being back in town (really). I told him a bit of what was going on... he was disappointed too; he said he'd be sorry to see me go, said I was a far superior neighbor

Yes, you sound like a wonderful person. Nothing to good for you I see.