Wednesday, May 23, 2012
We are under a land contract for our home. What can we do if our landlord is facing foreclosure?
I checked out our address on foreclosure.com but it says that it has no records of our home going into foreclosure. However, we have received many letters and postcards that state they can help save our home and that courthouse records show that we are at risk of losing our home. We are under land contract to purchase the home. If our landlord forecloses the home is he obligated to refund our down payment? What are our rights?
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The postcards may simply be phishing.
You need to verify if the house is really in foreclosure.
Ask your local Title Insurance company or check with the courthouse and see if a Notice of Default has been filed.
If you find that the property truly is in foreclosure, contact an attorney to see what your options are.