Hi, I live in Minnesota.
Several months ago, my girlfriend and I moved into a house with my friend and his girlfriend. The friend had just purchased the house a few months before and asked us to move into fill one of the empty bedrooms in the house. About 2 weeks ago, the friend and owner of the house was killed in an accident... This was his first house and I don't know a lot of the details about the mortgage or anything along those lines, but according to his parents, we have a small amount of time and then we need to move out of the house because they don't wish to continue payments and we may be unable to afford it. My question is, do we have any legal rights or legal options? Is it worth trying to work something out with the bank? It sounds like his parents are just going to stop making the mortgage payments and are going to let the bank foreclose on the home. All of us are 20 or under so we have no experience in the real estate area and have been unable to get any solid advice as to what we should do. Besides the loss of a loved one, we are faced with a move and a lot to think about. Any information at all would be really useful, I'm willing to do a lot of research on my own, I'm just not sure where to begin. Thanks much, Nic
Several months ago, my girlfriend and I moved into a house with my friend and his girlfriend. The friend had just purchased the house a few months before and asked us to move into fill one of the empty bedrooms in the house. About 2 weeks ago, the friend and owner of the house was killed in an accident... This was his first house and I don't know a lot of the details about the mortgage or anything along those lines, but according to his parents, we have a small amount of time and then we need to move out of the house because they don't wish to continue payments and we may be unable to afford it. My question is, do we have any legal rights or legal options? Is it worth trying to work something out with the bank? It sounds like his parents are just going to stop making the mortgage payments and are going to let the bank foreclose on the home. All of us are 20 or under so we have no experience in the real estate area and have been unable to get any solid advice as to what we should do. Besides the loss of a loved one, we are faced with a move and a lot to think about. Any information at all would be really useful, I'm willing to do a lot of research on my own, I'm just not sure where to begin. Thanks much, Nic