(Crosspost) If an investor gets a home sub2 and does not make payments on the property what recourse does the homeowner have?
The deed has already been signed over and the investor stopped making payments 8 months ago. Now the bank is foreclosing on the property. I was going to explain what happened to the bank and see if they will short sale. Is it possible? Im in ohio and the home is currently vacant.
The seller can make up the arrearages and bring his loan current, but a lawsuit will probably be needed to regain title if the investor is uncooperative. If the investor does not cooperate and voluntarily surrender the property back to the seller, a civil suit for breach of contract is probably the seller’s only legal recourse.