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What kind of scam is this? HECM reverse mortgage home that

What kind of scam is this ? HECM reverse mortgage home that is upside down. Currently being foreclosed upon. Some guy is trying to get me to sign this Exclusive Option Contract:If Recorded Mail To:APEXP0 BOX 30472Mesa, AZ 85275EXCLUSIVE OPTION CONTRACTFor valuable considerations, receipt of which is hereby acknowledged, I/weJamil Bissar, (Optionor) grants toSydnee Hymas dba APEX, (Optionee) and/or assigns,the 'exclusive optional rights' to purchase, sell, lease, let, sub-let, hypothecate, mortgage, encumber, occupy,collect and retain rents/funds/fees, etc. for the real and personal property and affixtures located atXXX X 10th Ave Mesa AZ 85204,Assessors Parcel Number is ***** in Maricopa County, Arizona which is currently owned byXXXXXXX (Optionor).This contract begins'and expires no earlier than two years later unless terminated inwriting by Optionee. Optionee can execute any, all or none of the 'exclusive optional rights' listed above atany time during this option period. Optoinee shall pay Optionor $250/month on the first of each monthbeginning after the thirtieth day from the 'contract begins' date above, until/unless the contract is terminatedin writing by Optionee. Optionor and Optionee acknowledges and agrees to the following ... the subjectproperty listed above is vacant/abandoned and the loans/HOA assessments-dues4ees/taxes/other financialobligations/etc. secured by and associated with this property may currently be in default, may go into defaultin the future and may proceed to foreclosure. If 'cash for keys' is collected by Optionee or if 'cash for deed' isrecorded by Optionee, Optionee shall pay Optionor $10,000.00 of that amount, otherwise there shall be noother consideration paid to Optionor by Optionee for executing 'exclusive optional rights' listed above.Optionee is not acting on behalf of Optionor as an attorney, accountant, counselor, advisor, consultant (perARS 44-1378), realtor, broker, property manager, etc. and has not made any verbal/written promises,guarantees or warranties. Optionor has the ability to read and understand this contract and agrees to holdthe Optionee harmless and fully indemnify Optionee and/or assigns.Optionor: XXXXX(for XXXXXXX)Optionee:

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Irwin Law

Juris Doctor JD

8,816 satisfied customers
I recently saved A house from foreclosure in a very

I recently saved A house from foreclosure in a very expensive Chapter 11 bankruptcy. I had no problem debt other than the loan on a rental property on which arrears had accumulated. I'd been told the arrears would be rolled into the modified loan I was applying for under Making Home Affordable's HAMP 1 program. I had re-applied for 6 years, always with Bank of America, or the loan servicer to which BofA had handed the loan off in Year 4, requiring new copies of out-dated documents. I was not rejected until the new loan servicer said in Year 5 that my income was inadequate. They had determined it to be about half what it really is.I hired a lawyer, and he got them up to 80% of my real income, which they also rejected, and then finally, he got them to verify my entire gross monthly income of slightly over $10,000/month. In an exquisite Catch-22, they then declined my application for inadequate income, but a later explanation made me question that. They set a foreclosure sale date and managed to arrange things so that I didn't know I had thirty days to appeal. (I can fault my lawyer here. He knew, but didn't think to tell me. They had informed him by telephone, which was improper, and which meant that there was no letter he could forward to me.) I immediately complained to CFPB. I said that the process had been artificially delayed so that my arrears became too great for HAMP 1.The loan servicer responded to CFPB's request that they address my concerns. They repeated that my income was inadequate. To demonstrate that, they showed how they had calculated the allowable arrears, which is not derived from my income. The real reason they declined my application was excessive arrears. They found that they were not allowed to put enough of the current amount owed into the forbearance/balloon to yield a balance that HAMP 1 said I could afford. Well, they should not have been so helpful, because whoever wrote the unsigned letter revealed that they were doing the calculation wrong. HAMP 1 said they could put 30% of the capitalized unpaid principle balance into forbearance, but they had calculated 30% of my original balance (the one I had when I began applying for HAMP 1). That made a big difference, because by then my arrears were nearly half the size of the original balance. They also didn't do the last part of the HAMP process, which was to extend the loan term, if necessary, to create smaller payments (and incidentally much higher amounts paid over the life of the loan). I became curious about this, wondering if this had only been done in my case. Data from the US Treasury showed that this loan servicer had the very lowest HAMP approval rate of all the servicers they tracked. They approved only 12% of HAMP applications. I then found data on Bank of New York Mellon's investor site that showed that any loans they did modify were modified without any adjustment to the loan term. The 2006 tranches all had maturity dates in 2036, the 2007s in 2037, etc. Unless they calculated my allowable forbearance by hand, I assume that they did it wrong for all borrowers, because it would have been built into whatever software they used to determine the net present value of a modified versus unmodified loan.If a fraud examiner were brought into a class action suit against this loan servicer, do you think she or he would find some nicely smoking firearms? Are you familiar with any litigation over matters like these that would supply optimism for a borrower like me? I went through far more than was necessary to get my interest rate dropped from 6.375% to 4%. I couldn't re-fi in 2012 or 2013 because my inflated balance was still too high, and by then the arrears were sky high, too.Additional atrocities attached. The long and short of it is that my HAMP applications were not handled honestly, which I think amounts to fraud. Do you?

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37,942 satisfied customers
I am on the HOA board of a small community. There are

I am on the HOA board of a small community. There are several renters. We have one renter who sublet to another renter and after two parties which resulted in arrests, the board would like to take action to have theverything subleters removed.In addition, and going forward we need to have somethingood in place that allows the board to interview potential renters.Can you provide guidance for both of these items?

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Roger

Litigation Attorney

Doctoral Degree

33,578 satisfied customers
I have two questions. The first question: I live in an

I have two questions. The first question: I live in an apartment and have lived there for 2 yrs. The rent has been raised 3 times since I've lived there. I "reluctantly" sign another 1 yr lease the end of April 2016 (w. effective date of July 2016) because they offered me an "early" bird special saying I would save $25.00/mo under the new lease. They increased the rent $50.00 /mo. on after the Early Bird discount bonus. Was given a short time to make my decision (5-7 days). I told the apartment front office rep that I felt the rent was too high and really didn't want to sign another year least and stay another year.I was not given any other options (i.e. like ...sign month to month rates, 6 mo. /9 mo. lease options) during my conversations with the front office. So, April 28, I signed the lease w. rent increase starting August 1, 2016. Visited the front office on, August 5 to let them know I would be moving. Was told I had only two options. First, option was to pay a "buy out " fee of $2,704.00 to be "paid" the same day you give your notice plus give 60 day notice before moving.I contacted the apartment's corporate office to voice my concerns w. the corporate relations person because no one in the front management office explained and/or gave me any options during our conversations during the last few weeks in April 2016. I was told if I didn't sign the "early bird" offer then my rent would go up expendentially and offer would be taken away. Also, told corporate relations officer that I felt pressured to sign another 1 yr lease so early even when it new lease wasn't to take effect until July 2016.Well, the Corporate Relations person told me that if I had concerns I should contact my lawyer to help me with " the buyout clause" on my apartment lease contract and not front office. I told her that I felt the front office management/rep should be there to help me and give me additional information and/or offers knowing that I wasn't interested in signing another years lease. I felt the Corporate Relations person was "cold" and "just as" insentitive as the apartment's front office team.After looking at my contract. There's no "$$dollar" amount shown on the contract. Just refers lease to another paragraph on the contract. I felt the corporate relations person wasn't interested in how their front office management reps and/or office managers handles customers' concerns.Apartment front office management/ reps want to see tenants sign annual leases and see their money is deposited on the 1st of each month. I have lived here for two (2) yrs and have never missed a payment. On, Sept 5 meeting (to inform front office that I would be moving) met w. apartment manager well within minutes (she) figured out the "buyout fee" within a few minutes during our conversation. This morning (August 30th) the apartment front office sent over 2 guys to do an "early" inspection move out which I was surprised by because I'm scheduled to move on October 18th which is over 6 1/2 weeks from now. Front office did sent me an email on August 23 giving me information about a Move out list on the things I need to do. I called the front office spoke to the manager to let her know that I will be living in DC around mid Oct. because I plan to move my things out before Oct. 18. Apartment manager told me that I didn't need to be the on Oct. 18th and the apartment maintenance guy would be the one making the inspection. But, low and behold today they showed up "talking about there were here to do a pre-inspection move out look and they were seeking bed bugs." I said, really. I let them in and one guy when upstairs ( he had no tools/equipment, etc.) and the other stayed down stairs with me. I have clothes, boxes, etc. on all of my beds. They guy who went upstairs did not approach me to ask me to move anything. He just came downstairs within a few minutes of being there and said ok. I feel this is a violation of my privacy and felt the visit was for something else and not to locate bed buds. I have a business at my house and my files have to be secured at all times and I have informed the front office management that when someone needs to come over I'd appreciate if they could alert me. The email that was sent on August 23 along with the conversation I had with apartment manager a couple of days after that. I was under the assumption that there would be no visits to my home until a couple of days before I move and/or there after. Back to my original question: Do I have the ability to take this apartment management front office and corporation office to "small Claims" court. Because, of the pain and lack of them doing their job to pass on essential information on to me which in the end has cost me "thousands" of dollars? And my second question is "the Bed beg" inspection. I feel this is a witch hunt and invasion of my privacy. What rights to I have ?

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David Stewart

Vice President Legal Affairs

Juris Doctor

178 satisfied customers
My son has sublet an apartment but he never signed any

My son has sublet an apartment but he never signed any papers. Only thing he signed was a personal check for 1st month's rent. Can the apartment leaaseholder hold him to a lease through April if my son never signed a lease or anything but a check for 1 month's rent?

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37,942 satisfied customers
I'm the victim of a theft that took place in a home where I

I'm the victim of a theft that took place in a home where I was renting from the renter of the home. This person (renter sublet to me)was evicted by the actual owner. Before I was able to retrieve my belonging, the home was vandalized causing me to lose a significant amount of expensive musical equipment..what options are available to me in the way of restitution?

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legalgems

Juris Doctorate

13,778 satisfied customers
I own a townhouse that I am renting. The two tenant who

I own a townhouse that I am renting. The two tenant who signed the lease have sublet part of the property to another family. I have a property manager who used ther leaser For Members Only Apartment Association: California Southern Cities. Approved Form #F11-10/13.This lease states in #7 ASSIGNMENT AND SUBLETTING _ Resident may not assign all or any portion of the Agreement nor shall Resident sublet all or any portion of the premises. Any attempt at assignment or subletting shall be void and an irremediable breach of this agreement. MY QUESTION: SINCE THEY DID HAVE ANOTHER FAMILY move in to share the rent does this VOID THEIR ONE YEAR LEASE? A 3 day Cure or Quit notice was served and there is no change # of residents. I do not want to serve an eviction notice. Can their lease now become month to month because the subletting is an irremediable breach of their lease.

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RealEstateAnswer

Juris Doctor

30,394 satisfied customers
I have recently run into a situation with my leasing company

Good morning everyone. I have recently run into a situation with my leasing company and am looking for a lawyer's opinion on the issue.Here's a brief rundown: The leasing company and I agreed to terminate my 12-month lease a month early with the conditions that: I find a new tenant to sign a 12-month lease, they sign, and I am responsible for rent up until their lease is signed. We agreed upon these terms in writing via email. I found new tenants, they were approved, and I was informed via email by the leasing company that the new tenants would be signing a new lease starting August 1st and therefore my responsibility for rent ended July 31. They never informed me that a lease had actually been signed, and I stupidly did not get confirmation on this before signing a new lease of my own.Where we are now: It is now July 29 and the leasing company emailed me this morning to let me know that the new tenants have decided not to move in until August 15 (estimated) so that the leasing company has time to complete repairs and maintenance. They told me I am responsible for rent up until the date the new lease starts. After talking to the tenants, I found out that the tenants and leasing company had already signed a lease starting August 1st. After this lease was signed, the two parties (leasing company and new tenants) mutually agreed to terminate the lease and to sign a second lease to start once repairs have been finished. They do not yet know the date this new lease will start.My question: Am I 100% responsible for rent up until this second, new lease is signed? Since the two parties already technically signed a lease (even if it was terminated), doesn't my responsibility end? Or does my responsibility for the unit only end after the second lease is signed?Any advice would be appreciated! Thanks!

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RealEstateAnswer

Juris Doctor

30,394 satisfied customers
We have tenants that want to break their lease early. We

We have tenants that want to break their lease early. We have them for a 12 month lease and they have only been living in our unit since March 1st and it's mid July. My husband and I own a duplex in Indianapolis Indiana and live in one side and rent out the other. They want to purchase a new home and haven't made an offer on a home as of yet, so there is no definite move out date. We told them that once they have a moving date that we will start showing their place, but they will be responsible for their rent until we find a suitable renter. They said in so many words that they don't trust us and think that we are going to sit on the unit. Our tenants said that they want break their lease and pay us a months rent when they leave to help us out, that this is fair. My husband and I said that we want to stick with the lease and find a suitable renter, then our tenants threatened us saying that they have a lawyer and their lawyer said by law that they could sublet their unit if they wanted to. We have in our lease that it's at our soul discretion if they can sublet our not. My husband and I feel like we are being pushed into a corner. We do not know the subletting laws in the State of Indiana and what our options are with dealing with our tenants.Thank yo for your help.Joan

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Marsha411JD

Doctoral Degree

18,946 satisfied customers
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