Posts tagged: Leasee

Why would a lender not allow a tenant to AT LEAST finish a 6 month lease on a foreclosed property?

lease property

http://www.cnn.com/2007/US/11/30/willis.rentervictims/index.html?iref=mpstoryview

If a tenant that had signed a lease before a property became foreclosed is paying his/her rent on time and the lender knows he will have a difficult time selling the foreclosed property why would it not be in the lenders interest to allow the tenant’s lease to continue?
1. I am referring to a renter that has taken care of the property.
2. If thats the case why not take the money from 6 months of rent(for example $1800 times 6 =$10800.) and allow a renter to finish out there lease instead of letting it sit with little possibility of selling it .
This is ridiculous these comments
You have thousands upon thousands of homes where renters who ahev been paying there renter on time being thrown out. These homes are going to sit with property tax due and the lender has to pay it yet he would reject the rent of 10,800 in 6 months just TO LET SOMEONE RUN OUT HIS LEASE.
YOU CANT BE THAT STUPID.
Thats alot of dough yet you really think property management is a huge expense againt that much money coming in?
What if you had 10 homes at 10.800 every 6 months just finshing a lease.?
Thats 64,800 dollars.
The lender would rather sit and pay the 20,000 in property tax out of his own pocket???
The leasee is paying the electricity, trash, water and other utilities???