we did a lease with option to buy on a house with a contract ,down payment ,made all the payments , we recived a letter in the mail from the bank that its in fourclosuer ....he had been taking payment from us and not paying the bank so now were lossing all our money and now we gota fiend a place to live ...what can we do
i talked to a lawyer this past week and was advised to seek a lawyer outa town to take him on due to his power in the town ..everyone around here is scared of him .......also in our contract it stats we have to pay for the insurance min witch we have and a claim was filed and he recived payment while the work was never done and we recived a letter of forecloser from the bank .. Save
You need to start by getting an attorney. The bank might be willing to negotiate a short sale of the property. Also you have several options but an attorney needs to look at the lease agreement.