My boyfriend has run into a HUGE problem on a multi-family housing unit he purchased. He purchased the house because an old friend's family was about to lose it to foreclosure. The deal was to let them continue to live in home, they would send him the mortgage payment, & in a reasonable amount of time they would re-purchase the home from him. Well after about 6 or 7 months they ceased sending pymts. and he's been making them for about a year. They almost closed on the property once, but all the previously agreed upon terms were not in the contract so he stopped the sale. He attempted to sell the property to someone else recently, but before he could, those currently living in the house placed a lien on the house.
Did I mention that he hasn't lived in NY for over a year? All of the additional expenses (mortgage on 500K home, travel and legal) are taking a toll on him. What can he do?
Did I mention that he hasn't lived in NY for over a year? All of the additional expenses (mortgage on 500K home, travel and legal) are taking a toll on him. What can he do?
