Literally living in the Big Short 2.0 right now:
Was just served papers (intended for my landlord) and it sounds like the home we’re renting is being foreclosed upon..
Discussion
That happened to me back in 2008… I moved, but in retrospect I probably should have just rode it out and lived rent free for several years.
Find out what your rights are and get legal help if you can.
Related: I have a friend who owned a condo in NYC and the bank that held his note—which was part of a tranche of distressed assets—went under. It took years to figure out which entity it had been transferred to. The whole time he just put his mortgage payments into a high-yield savings account and he was finally able to sell it for a healthy profit.
That's one way to save!
Ouch.
Damn man, good luck. Hopefully you don't have to go anywhere if you don't want to
Yikes.
Prop mgmt company thinks it’s something they’ll be able to sort out. I’m skeptical, but we shall see.
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