Legal Question in Real Estate Law in New York

renting while being foreclosed

We moved in a house 4 months ago the landlord seemed very nice, he told us that he would give us a year to save the money for the downpayment and to get any neg items off of our credit reports so we could buy the house. He told us that we could do any renovations that we wanted because the houes would be ours. We were stupid and we believed him. We have paid him to date approx 9000.00. He shows up here yesterday with an appraiser for the house. He had told us it was because he was getting a loan. They both walked through the hosue and went outside. They both came in and then he dropped the bombshell that the house is being foreclosed on and that we could get a mortgage for 190,000.00 to buy the house. We just dumped all of our money on paying him, and doing the renovations on the house. Who has the money for the downpayment, closing costs and this months rent that he still wants on top of it! Not to mention the house was appraised AFTER we did the renovations. Can someone please help?


Asked on 7/01/09, 2:59 pm

1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC

Re: renting while being foreclosed

Please let me know the following: 1. Whether your right to purchase the house was in writing or oral, and 2. Whether you received notice for the foreclosure action.

Mike.

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Answered on 7/01/09, 4:56 pm


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