Long story shortish...my husband and I have rented a house for the past three years. We always hoped to purchase it one day but we were caught in the real estate crash, and my foreclosure was final in August of 2012. US Bank dragged their feet forever on his, so it wasn't final until last June.
Landlord's kind proposal...
$60k in cash. The balance at 7.5%. We pay taxes, insurance and HOA. Asking price $20k over market. And he won't record the deed until it's paid in full, so nothing in our names, no mortgage interest tax deduction.
Am I wrong in seeing that deal as an insanely expensive lease option? He's become really abusive in his messages to us, calling us liars and stupid people and saying he feels really "screwed over." Frankly, I think we dodged a bullet in not entering into a contract that one-sided with someone like that.
I think we'll just find a short-term apartment and actually buy a house in my name in August. With my name on the deed and everything!
Sorry. Just frustrated with this guy. And a little shocked at the messages I'm getting from him.
