My brother bought a house about 2 years ago and paid 65000 for down payment because he worked with some lady and his friend agreed to get the loan with the down payment. My brother couldnt make payments and his friend didnt want to refinance it He tried getting a lawyer but because the house went into default at the same time there was nothing he can do.My brother says the auction for his house is on the 22nd of September what happens if he leaves most of his trash behind?
2007-08-29 14:26:33 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The trash will be cleaned out, but he might be billed for it.
2007-08-29 14:32:43 · answer #1 · answered by Princess Leia 7 · 0⤊ 0⤋
My husband is a real Estate agent and he goes into foreclosure houses all the time. No one ever cleans up there trash and they sell the with the trash in them. If you have ever watched the house flipping shows there is houses like that all the time. The investor who buys the house cleans it up. If his name was not on the financing for the house he could go to the auction and buy it back for a fraction of the price. This would lower his payments too. Bottom line do not clean up the trash.
2007-08-29 14:38:24 · answer #2 · answered by MICHELLE M 2 · 0⤊ 0⤋
Trash and other posessions become the property of the new owner. Most likely, they get thrown out as garbage.
2007-08-29 14:36:55 · answer #3 · answered by tkquestion 7 · 1⤊ 0⤋
The $65,000 is a total loss.. Anything left in the house and garage belongs to the new owner. If he wants his stuff -- better move...
2007-08-29 14:39:23 · answer #4 · answered by Gerald 6 · 0⤊ 0⤋
He is called a "straw buyer" and that is completely illegal. It will not matter what he leaves behind, it would thrown out just like any tenant leaving their stuff behind when a landlord is foreclosed on.
2007-08-29 14:35:09 · answer #5 · answered by Etta P 4 · 0⤊ 0⤋
he will be arrested for littering
2007-08-29 14:34:34 · answer #6 · answered by Anonymous · 0⤊ 1⤋