What your landlord is saying may be true, but the way you worded it is technically incorrect. Once the house is foreclosed upon, that severs the relationship between the bank and the homeowner, thus there is no longer a mortgage to refinance. They could get another mortgage and purchase the house at auction, a foreclosure sales usually don't allow people to purchase homes with money from a bank, usually people with cash on hand or someone who already has a bank willing to let them purchase that house up to a certain dollar value. That circumstance simply does not fit the fact that you provided, you cannot refinance after a foreclosure.
I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options.
Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.
Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave. Unit 2 Fall River, MA 02723 Office: 888-269-0688 FAX: 877-475-8147
Answered on Apr 15th, 2014 at 3:21 PM