Although an obligation from the owner to the mortgage company is seperate from a rental agreement from the tenant to the owner. Doesn’t give the homeowner the right to defraud the renter. IT IS MORALLY WRONG. I can’t believe some of the posters saying it is none of my business what the homeowner does with the rent. What about the renters right to a secure place to live?
Rent is suppose to be used to pay the mortgage. Not paying the mortgage is tantamount to FRAUD. Leaving the renters to fend for themselves is irresponsible.
Property manangement companies need to set up an account where the rent is paid directly to the mortgage company. I know I’m not alone in this situation.
If you own property and in foreclosure. Be upfront with your tenants. Don’t take money from them to save your own ass. Even if it’s legal to do so.
Quick House Sale
