Thursday, March 19, 2009

a renter's quandry

We rent our home. Today, I'm happy to type something like that. It's not such a good time to own a home in the Phoenix area right now. We sold our beautiful home 2 years ago because of the direction we thought/think the housing market is taking. We were right, BUT we weren't prepared for the owner of our rental home to foreclose on US. Apparently this is happening more and more from the stories I am hearing. It happened to my parents a couple of years ago. They were renting and the owners couldn't make payments and foreclosed on them too. But here, the landlord didn't bother to tell us. I found out on my own. I'm sneaky that way. I also found that 5 of his other properties are also in foreclosure. Excellent. He tells me he's trying to modify the loan, etc, but with so many other properties in foreclosure, I'm guessing that's just not gonna happen.

April 20 is the magic date and we're looking for a place to live now. I'd love to buy and have it over with, but we also don't think it's time yet. We think there's another year to this housing madness in Phoenix. What if the landlord forecloses again? I suppose there's never a sure thing, but it will be frustrating to have to look the house up in the tax records every month to make sure you're not missing anything and have enough time to recup the deposits.

My husband also wants to stay here for as long as possible. It does make sense, no rent, delay moving, harvest the fruits, which are vegetables, of the garden my dad just planted, etc. So, I guess we're waiting for an eviction notice, which terrifies me. We've done nothing wrong and yet we'll get an eviction notice. They give you 2 weeks after that (so I've heard) to move out. Sean wants to see if the bank will rent it to us while they try to sell it. Never heard of that happening, but I suppose it's worth a try.

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