# Need help FAST in Oregon



## 54metalman (Jul 12, 2011)

We are in need of help fast here in Oregon. We have been leasing our 80 acre ranch for about a year now. We were told that we would have about 2 years before they wanted to sell and we would have first shot. long drawn out messy story but thats the nuts and bolts of it. Well we just got word that she wants to sell and sell NOW!!!!! We are not in a posistion to buy yet. We cant move (13 horses, 9 cows 4 of which are do this May, 6 buffalo, 25 chickens, 5 goats, 1 sheep, 20 tons of hay in the barn, 2 teenagers, tractor, ect!!!!) right now as we cant find anywhere that will fit our needs. What do we do????? We dont qualify for a standard loan. House is 1925 and needs work. Traditional banking wont lend on it. The only thing I can think of is a private investor or loan. We really need some help please.......:awh:


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## obleo+6 (Jul 21, 2008)

Wow...kinda sounds like what we got hit with just recently so I know what you're going through.

This may or may not be a solution but by the grace of God, we just closed on our place last Friday. It's not the place we were in originally but we were able to find another place. It was an owner financing, which is becoming very popular across the country due to banks not wanting loan money. Yes, you pay a higher interest rate and a few other quirks but it really saved us.

Can you talk to the owner about owner financing? Are they willing to divide the land and you just buy, via OF, the portion you need/want?

There are RE agents/companies that have access to OF places but you have to ask as they don't make much money on them so don't advertise them as much.

We've been moving our stuff down to the new place every other day truckload by truck load, no trailer...sigh...and will probably take us until towards the end of the month to get it all down there so I know what you're facing in having everything you have and having to move it. My heart goes out to you.

I'd try, with a prayer or two, the owner first, unless they are unreasonable.

I'm not a RE agent or lawyer but learned alot in trying to get our situation resolved.
I'd also consult an atty. if they are trying to sell it out from underneath your original lease agreement....just a suggestion.

God bless


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## 54metalman (Jul 12, 2011)

Thank you and yes we are looking at OF places as well as under every rock and behind very tree. The situation is a bit sticky and messy so the owner does not want to deal with the place any more. We are paying the mortagage for her and the property is not costing her a dime! She got the place when her ex husband passed away suddenly from a heart attack. He just hadnt got around to removeing her from the title yet. She also got the $400,000 life ins payment aswell. Taxes ans ins are included in the payment so like I said, It has not cost her a single thing. We even take the payment to the bank for her. The kicker is she and her new boy friend want to buy a house together. They both own their homes already out right. But the farm shows on her credit and has a balance of $380,000 on the loan. Even though we are paying it she cant get another place with this on there.... or so she says, so she just wants out now. Grrrrrrrrr no0 sleep again last night. I hate running on empty.


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## 54metalman (Jul 12, 2011)

Oh forgot to throw the iceing on the cake!!!!! She knows we just went through a big medical issue. My fieoncay (sp?) just had a freaking brain tumor removed in september and is just now getting back to work!!!!!! Nice lady yea!!!!


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## simi-steading (Sep 27, 2012)

Try Farm Credit. Sounds like you are in the exact kind of place they like to loan on... 

It was the only place that wanted to loan to us for the place we bought. (It was a land deal, but had a home on it that needed work)

They were tripping all over their selves to get us the money, and kept trying to give us more for equipment and remodeling...

Oh.. a cool thing about it, they don't require us to get insurance on the place either... We'd never find an insurance company because of the house...


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## simi-steading (Sep 27, 2012)

http://www.farmcreditnetwork.com/

A good friend of ours is a CFO for Bank of America and used to own a First National in a rural area, and he's the one that turned us on to Farm Credit.. He said even places they could give a loan on for land they couldn't touch Farm Credit's interest rates... We paid 6%... High, but for land, cheap..


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## SilverVista (Jan 12, 2005)

Where in Oregon are you? Might help me come up with some ideas...

For those of you suggesting subdividing, please understand that Oregon has some pretty stringent laws about farm land. If the OP is in an EFU-80 zone, that land can't be divided further because no parcel can be less than 80 acres. If he's in an EFU-40 zone, then it may be possible to divide it in half, but with that number of large livestock it isn't going to suffice.


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## 54metalman (Jul 12, 2011)

Sub dividing is not an option. Even if we could we wont cause we need all the land we can get for the ranch/farm. We are in clackamas county between Sandy and Corbett in a community called Aims. We were reffered to the FSA for loan and investment options. They have no money to lend and a waiting list for any money that comes in. Subdividing is not allowed for this area. All our neighbors have 40 acre plots. We have 80 and now the laws and rules wont let anything smaller than I believe 100 to be divided. But like I said it doesnt matter because we need all we can get for the livestock.


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## SilverVista (Jan 12, 2005)

FSA is USDA money. Not the same as FArm Credit. Like others have said, the best place to start would be Farm Credit. They're on Hawthone, about a block north of the Costco in Salem. 503-373-3000.


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## simi-steading (Sep 27, 2012)

Farm Credit told us they typically want 25% down on land loans, but since our credit was so good they allowed us to put 20% down. Not sure if that would be a problem or not for you.

If you are buying the place as a residence they will probably want less, and your interest rate will be a lot lower too.


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## 54metalman (Jul 12, 2011)

Farm credit said our credit rating was not good enough. No help there. Looking for private loan or other property to lease. If I could get 400 people to loan me $1000 ea we would have it made!!!!!! Keep the ideas coming please. There has got to be something we can do.


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## obleo+6 (Jul 21, 2008)

I'm going to put this out there, based on past experience.

We lived in a place quite a while ago. We had a rental contract but the owner had the place up for sale. We were concerned about it but he said if he sold the place before our rental contract was up and the new owner wanted us out, they would have to buy us out of our contract before making us move. Back then it was 500.00 a month for the remaining 12 months...not a bad $ haul on our part but the moving ...ugh! BTW, he never sold the place and we moved at the end of our contract anyway. It's always easier to move on your own terms than it is to move on someone else's.

The other thing is, does she have a buyer now or is she just wanting you out and off the property? If you still have a signed lease agreement and she is violating that for whatever reason, get ahold of a RE atty, many can be had for free for the first 30 mins, and she may have to buy you out of your agreement. Doesn't solve the moving part but could give you a nice chunk of change to do so.

I'm so sorry you're going through this. Seems now-a-days, people are just getting greedier and greedier and no compassion for the simple folk...and that's a compliment! More prayers for you and yours.


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## 54metalman (Jul 12, 2011)

I must not have made it clear. We want to stay here. We want to purchase and live out our days here and pass it on to our grand kids. She and her boyfriend have found something they want and cant have it because she has a mortgage on this place. Even though it doesnt cost her a dime it is on her credit as a debt to income. So she wants to get it off her credit so she can buy whatever it is she wants now.


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## Lazy J (Jan 2, 2008)

54metalman said:


> I must not have made it clear. We want to stay here. We want to purchase and live out our days here and pass it on to our grand kids. She and her boyfriend have found something they want and cant have it because she has a mortgage on this place. Even though it doesnt cost her a dime it is on her credit as a debt to income. So she wants to get it off her credit so she can buy whatever it is she wants now.


 
I understand your frustration, I really do. However, she is the one that now owns it regardless of how she obtained, she can do with it what she wants. It matters not whether your rent payment equals her mortgage payment.

Good luck with your options. She might have a hard time finding a buyer in this market with the non-division rule which works in your favor. In the mean time I would do everything I could to save cash and make myself loan worthy.


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## goatlady (May 31, 2002)

In today's RE market it may be QUITE a while before she finds a qualified buyer. Another thing is that even though that property is showing in her name on her credit report, she should also be showing the monthly payment as income which offsets the mtg. payment. She apparently is not very knowledgable about credit and real estate. It may well be she did not even mention that the property was rented with a written lease cause that DOES make a difference to a banker. Can you somehow ask her if she told the banker she was a landlord? If you have a written lease that lease MUST be adhered to by her and you. Somewhere in that lease "should" be something that covers timing, vacating when a sale happens. Just take some deep breaths and don't panic this early in the situation.


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## rharper (Feb 4, 2013)

Wait a minute here ...

You're paying her mortgage? And taking it to the bank for her every month? So the money doesn't even go through her? And she's complaining because the mortgage is on her record?

I'm no accountant, but I smell a tax dodge here. If she'd acknowledge herself as a landlord, then I expect her loan would be fine--it would be an investment property rather than a primary residence, and I would expect that to be calculated differently. 

But if she acknowledged herself as a landlord, then your rent would count as income, which would be taxable. By having you pay her mortgage, she's getting her cake without having to pay for it. 

Again, I could be totally off-base here, but I would suggest a quick conversation with a lawyer. I think you might be the inadvertent accomplices in a tax scam.

I don't know how this will help you, but if she's playing fast and loose it's worth knowing the score.


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## Nimrod (Jun 8, 2010)

How evil and nasty do you want to be? If she is not declaring the rental income on her taxes, you have leverage. If you want to stay there could she be encouraged to do owner financing?

If you have a lease, make her live up to her end of it.

If you do have to move and have not found another place you could make her evict you and gain a month or two more to look. If you do this to buy time I suggest you pay her the rent you would have owed her and her costs to evict you in exchange for a notarised statement that you don't owe her any furthur money.


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## ChristieAcres (Apr 11, 2009)

As a former Loan Officer for five years, Landlord for four years, Owner of a Corp, but not an Atty or an Accountant...

We were legally required to disclose our rental income and when we bought this place the income was counted against the debt for qualifying.


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## Joshie (Dec 8, 2008)

54metalman said:


> I must not have made it clear. We want to stay here. We want to purchase and live out our days here and pass it on to our grand kids. She and her boyfriend have found something they want and cant have it because she has a mortgage on this place. Even though it doesnt cost her a dime it is on her credit as a debt to income. So she wants to get it off her credit so she can buy whatever it is she wants now.


Since the current owner inherited more cash than the mortgage, would she consider paying off the mortgage and then owner financing to you? Her mortgage would be gone. She and her boyfriend could sell their homes and buy one for themselves. 

I'm sorry about your fiancee. I'm only saying this because you kind of made the comment about not knowing how to spell it, I start typing a word into google; it'll finish the word with the correct spelling. If I'm way off I google my spelling guess with the definition. Usually works for me. 

I would look around for property in case this doesn't work out. You might need to sell some of your stock. Unfortunately, situations change for tenants and landlords and your landlord wants to unload her property at her time. Please work on your credit score. I have a feeling that even if she will sell the place to you with owner financing she's eventually going to want you to get your own financing. You're going to need to work hard at improving your credit score.


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## ChristieAcres (Apr 11, 2009)

> We were legally required to disclose our rental income and *when we bought this place the income was counted against the debt for qualifying. *


Here is your answer... She is committing tax fraud it sounds like. In order to qualify for a loan, she has to show Tax Returns...they are missing the rental income, so ZERO proof she has a Tenant.

Me, as a Tenant, would NEVER have paid her mtg directly to the Bank. 

As for your Credit, I offered Credit Repair Counseling for FREE and it is easy to fix your Credit, just takes time. You pay the bills on time every month, get 2 pre-paid Credit Cards, never go over 35% max, use them only for food/gas/bills, as you can qualify, get Gas Cards, and try to get accounts that report to the 3 Credit Bureaus. If you have any collection reports, pay them off. The most important thing is to keep your ratios below 35%, occasionally carry balances, and don't use your credit to buy "stuff," but only to purchase what is necessary (bills, fuel, food...). 

You will be amazed at your Credit Score if you maintain this for a year, then into the 2nd year.


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## Lazy J (Jan 2, 2008)

WHOA!!!!!

We're making some pretty bold statements about the situation with accusations of tax fraud on the owner's part.


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## fordy (Sep 13, 2003)

...............If , you cannot qualify for a loan to purchase your current leased property then you might be chasing UNachievable dreams ! Why not see WHAT amount of financing you can qualify for , find a place that meets those criteria , sell off whatever animals you need to for a down payment and turn your dream into reality ! , fordy


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## ChristieAcres (Apr 11, 2009)

Lazy J said:


> WHOA!!!!!
> 
> We're making some pretty bold statements about the situation with accusations of tax fraud on the owner's part.


Okay, so Tax Evasion is fine and so is going back on a lease agreement? The Owner doesn't want to claim the income, so who loses...Tenants! The Tax Returns need to match the Rental Income, which is a basic standard Loan Requirement to calculate DTI. Tax Evasion is the correct definition, not fraud, sorry. But she may be guilty of that on other levels. Regardless, this is a real crummy way to treat Tenants!


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## Lazy J (Jan 2, 2008)

lorichristie said:


> Okay, so Tax Evasion is fine and so is going back on a lease agreement? The Owner doesn't want to claim the income, so who loses...Tenants! The Tax Returns need to match the Rental Income, which is a basic standard Loan Requirement to calculate DTI. Tax Evasion is the correct definition, not fraud, sorry. But she may be guilty of that on other levels. Regardless, this is a real crummy way to treat Tenants!


How do you or anyone else on this thread know the Landlord is evading taxes? Are you assuming jsut because the rent is deposited directly to a mortgage?

I think the Landlord is a greedly scumbag, but I don't think anyone has the evidence to claim fraud or tax evasion based solely upon what the OP has posted.


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## Molly Mckee (Jul 8, 2006)

It is not tax fraud to have someone else take your payment to the bank. You have no idea what is on her tax forms. She may very well be declaring the income and the expense of renting.

It sounds like she has not been a landlord long or had the money she does now. Her credit may not be that good, her cash may be spent or tied up, or she just may have decided she does not want to be a landlord. None of this makes her a tax cheat.

Was your lease in writing with her ex? If his will was not updated he may have left things in a financial mess, and she may need the money to straighten things out. Does OR tax inheritances? I know they tax almost everything else.


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## shanzone2001 (Dec 3, 2009)

54metalman said:


> I must not have made it clear. We want to stay here. We want to purchase and live out our days here and pass it on to our grand kids. She and her boyfriend have found something they want and cant have it because she has a mortgage on this place. Even though it doesnt cost her a dime it is on her credit as a debt to income. So she wants to get it off her credit so she can buy whatever it is she wants now.


 
When we went for a loan on a second house, we just had to show proof that the first house would be a rental....check into that. 
If you state that you are paying the mortgage, it shouldn't be an issue whether or not it is on her credit. The mortgage on the rental is not part of her debt-to-income ratio.
Something doesn't sound right. People buy multiple homes all the time.


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## Lazy J (Jan 2, 2008)

Molly Mckee said:


> It is not tax fraud to have someone else take your payment to the bank.


Were I a renter of a home with a mortgage I would feel a lot more secure in the OP's position where I knew my rental payment went to the mortgage rather than waking up after 6 months only to discover having to move because of a foreclosure because the landlord spent the rent rather than paying the mortgage.


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## simi-steading (Sep 27, 2012)

Lazy J said:


> Were I a renter of a home with a mortgage I would feel a lot more secure in the OP's position where I knew my rental payment went to the mortgage rather than waking up after 6 months only to discover having to move because of a foreclosure because the landlord spent the rent rather than paying the mortgage.


Been there.. not a fun thing to deal with... and it was a friend of my ex-wife's family.... didn't need no enemies...


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## ChristieAcres (Apr 11, 2009)

The situation has been clearly explained. The Landlord states she cannot buy a property due to this one being on her Credit Report. If she is reporting the Lease Payments as Income, this would be on her Tax Returns.

Tax Returns and Proof of Income are standard Loan Requirements.

So, if she is saying she must sell the property to buy a home to get it off her financial obligations, that is an obvious indication she is NOT claiming the Rental Income. Not claiming the Rental Income is avoiding paying taxes on it...

Income Claimed
Shows as Income on the Tax Returns
Proof of Income changes Debt To Income Ratio (DTI)

Do you understand now? 

Beating a dead horse, but claiming the Rental Income, meeting standard Loan Requirements for such, would decrease her financial outgo... Thereby the current property would NOT prevent her from buying another one. See below:



> Thank you and yes we are looking at OF places as well as under every rock and behind very tree. The situation is a bit sticky and messy so the owner does not want to deal with the place any more. We are paying the mortagage for her and the property is not costing her a dime! She got the place when her ex husband passed away suddenly from a heart attack. He just hadnt got around to removeing her from the title yet. She also got the $400,000 life ins payment aswell. Taxes ans ins are included in the payment so like I said, It has not cost her a single thing. We even take the payment to the bank for her. The kicker is she and her new boy friend want to buy a house together. *They both own their homes already out right. But the farm shows on her credit and has a balance of $380,000 on the loan. Even though we are paying it she cant get another place with this on there....* *or so she says*, so she just wants out now. Grrrrrrrrr no0 sleep again last night. I hate running on empty.


Nope, she can't get another place Financed, if she ISN'T claiming the Rental Income.

Otherwise, she is lying, but what other reason would she have for being so cruel and cold to violate the Lease Agreement (haven't seen if this was in writing or verbal...)?


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## Lazy J (Jan 2, 2008)

Everything you assume is based on heresay posted by the OP. You don't know anything about her finances, ONLY what the OP claims. 

I tend to agree with you, but that is an assumption on my part and is not based on facts, just like your opinion.




lorichristie said:


> The situation has been clearly explained. The Landlord states she cannot buy a property due to this one being on her Credit Report. If she is reporting the Lease Payments as Income, this would be on her Tax Returns.
> 
> Tax Returns and Proof of Income are standard Loan Requirements.
> 
> ...


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## Molly Mckee (Jul 8, 2006)

Since she inherited this property recently she may not have a good credit score. If the rental income pays the mortgage, plus taxes and insurance she may not have enough credit or down payment for a new house. For all we know she used her money to pay off both her house and bfs very recently. She may have depreciated the rental to lower her taxes, who knows? Seems to me that saying she is cheating on her taxes when you have no idea that she is is not going to help your case. 
I don't think OP has said that he has a lease. If he does there should be some type of clause that states what happens in the event of a sale.He says that he has been renting about a year, if he rented from her x, she doesn't have a years record as a landlord. If he has a lease, with an option, then it is up to him to buy the place if she wants to sell. If the option gives him two more years and she is breaking the contract, then talking to a lawyer might be in order.


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## ChristieAcres (Apr 11, 2009)

Lazy J said:


> Everything you assume is based on heresay posted by the OP. You don't know anything about her finances, ONLY what the OP claims.
> 
> I tend to agree with you, but that is an assumption on my part and is not based on facts, just like your opinion.


Everything folks post on here, regarding their experiences with others, is hearsay, so this is nothing new. Our responses, based on logical conclusions of what the OP shared, are simply that- measured conclusions, NOT assumptions. I posted if she is telling the truth (read again), if not, she is simply lying. That is based on what the OP wrote, which we can only respond to. 

If I say my husband was upset over me not doing the dishes after working all day long, what would that mean?

1- I was at the office?
2- I worked from my home office and was on the phone/net all day?
3- Oh, I worked out in the garden all day long?
4- Or, I was out in the field, working with Listing Clients (I am a Realtor)

If I don't give details, one can assume all kinds of things. If do give details, you are getting a one sided story. Extremely common on HT, so should we instead, just assume the OP is lying?

My responses are based literally on logic, and the only assumption is believing the OP. The alternative is counter-productive. Why post at all, then (?!). Giving benefit of the doubt is all one can do, when told something, without personal experience and knowledge of the OP or the situation directly.

After seeing my little Avatar, upon reading a post, I was gently accused of using an old picture (the post identified me having a DD, who is 24). So, I posted a recent picture of me, to which there was no response by that individual. That elicited other responses with nice comments. Although I am 49 years old, I guess I have aged well, as to most I do appear to be in my 30s. This isn't just in pictures, but in real life. I don't mind that much, but do get a little tired of hearing it all the time. When I am in a group, it can be rather embarrassing. 

I recently posted my DH surprised me a bit when I witnessed him doing 4 sets of Military Push-ups, equaling 240, just last night. Further, he also did 3 sets of Sit-ups, equaling 170. If that wasn't enough exercise, he also rode his mountain bike earlier in the day. No, he isn't training for anything, but wants to increase his strength, and he is actually 56 years old. Now reading the aforementioned, which is 100% true, some folks will disbelieve it... I am very proud of my DH for putting forth the efforts he has for the past 9 years, consistently, to stay fit!


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## ChristieAcres (Apr 11, 2009)

Molly Mckee said:


> Since she inherited this property recently she may not have a good credit score. If the rental income pays the mortgage, plus taxes and insurance she may not have enough credit or down payment for a new house. For all we know she used her money to pay off both her house and bfs very recently. She may have depreciated the rental to lower her taxes, who knows? Seems to me that saying she is cheating on her taxes when you have no idea that she is is not going to help your case.
> I don't think OP has said that he has a lease. If he does there should be some type of clause that states what happens in the event of a sale.He says that he has been renting about a year, if he rented from her x, she doesn't have a years record as a landlord. If he has a lease, with an option, then it is up to him to buy the place if she wants to sell. If the option gives him two more years and she is breaking the contract, then talking to a lawyer might be in order.


If the OP has told us the truth and the Landlord said what she did, and that was the truth, then her DTI is why she doesn't qualify. Getting rid of the home, removes it from her Credit Score. Rent collected, proven, SHOWN on Tax Returns, negates a large % of the DTI, allowing Landlords to qualify for rentals. Without proof to show the Lender, which is what I doubt she has (Tax Returns), her only choice is to sell the property, which the OP confirmed. 

In most States, residency with nothing but a verbal lease, requires a Legal Eviction process. It is common for Landlords, trying to avoid reporting Rental Income, ask their Tenants to make Mtg Payments directly. The Tenants have no proof of their renting, other than Receipts they paid the Mtg Payments. If the Tenants try to buy a place, qualifying for a Loan, they will be required to show Proof of their Renting. If they have no Lease, and their Landlord won't furnish any documentation, then that would likely exclude them from qualifying for a Loan. A good Rental History is required for Home Loans...

I worked with multiple Clients for up to a year, advising them in Credit Repair, and how to qualify for their Home Loan (meeting every single condition). If they followed my advice, they qualified, and I helped them find a Home. 80% of the folks I worked with, followed the steps, experienced substantial increases to their Credit Scores, qualified for Loans, and bought Homes (the other 20% didn't follow through). As a Realtor and Loan Officer, I could help people in all kinds of situations. 

Let's hope the OP has a Lease and can get help from an Attorney!


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## Molly Mckee (Jul 8, 2006)

The OP was not the one who jumped to the conclusion that tax cheating was going on.


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## SteveD(TX) (May 14, 2002)

lorichristie said:


> As a former Loan Officer for five years, Landlord for four years, Owner of a Corp, but not an Atty or an Accountant...
> 
> We were legally required to disclose our rental income and when we bought this place the income was counted against the debt for qualifying.


This. ^^^

Since the property, it should show as an investment property that is leased. I've bought property that way and having an extra mortgage isn't a problem as long as there is a binding lease to pay the mortgage along with taxes and insurance. It really helps if there is an actual signed lease, and the rent payments are more than the mortgage payments. You might offer to sign a long-term lease.


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## ChristieAcres (Apr 11, 2009)

Molly Mckee said:


> The OP was not the one who jumped to the conclusion that tax cheating was going on.


That is incorrect, but a logical conclusion based on statements made by the OP, what what statements were made by his Landlord, on standard Loan Requirements, and on my own personal experience as a Landlord (filing taxes as such, reporting Rental Income, and me actually qualifying to purchase our Home), in addition to me being a Loan Officer for (5) years (a lot of experience reading Credit Reports and very familiar with all qualifying documentation for Loans). A Landlord who reports Rental Income, has proof to qualify for a Loan. One who doesn't? Doesn't. This fits with what the OP stated. I believe he is telling the truth and am not going to defend the Landlord...

So, this is a moot point.


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## ChristieAcres (Apr 11, 2009)

SteveD(TX) said:


> This. ^^^
> 
> Since the property, it should show as an investment property that is leased. I've bought property that way and having an extra mortgage isn't a problem as long as there is a binding lease to pay the mortgage along with taxes and insurance. It really helps if there is an actual signed lease, and the rent payments are more than the mortgage payments. You might offer to sign a long-term lease.


Thank you for seeing this as making simple points, not trying to start a debate. 

Gee, other folks ought to realize I posted to help (also forewarn others who may not be reporting Rental Income, don't blame ya, but there are consequences). The OP isn't the Landlord, just sayin', so I am not on her side...


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## Lazy J (Jan 2, 2008)

And all of this discussion has not helped the OP, who can't get a loan, find solutions for his desire to become a landowner when all of the lending sources he has asked for help feel he is not worthy of the lending risk.


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## ChristieAcres (Apr 11, 2009)

The info I hage posted will help others avoid making some big mistakes... AS for the OP, just read what I wrote about establishing Credit and meeting Loan Requirements. So, none of that was helpful??? Depending on where his credit, income, and bank account is, this is very helpful. It isn't an overnight fix. If he has a written Lease the Landlord has violated, then he was also told to seek an Attorney at least once in a Post I read.

You'd be surprised at how many folks don't know how to qualify for Loans or are recovering from life's big unhappy surprises...

Also, I saw a helpful post, but it did recommend he get rid of a lot of animals. He could sell quite a few, put some $$$ down, and get a Seller Contract somewhere... It is very hard to be in that situation, but there are very few solutions to his dilemma.


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## Lazy J (Jan 2, 2008)

LOLChristie, I was referring to our bickering about his Landlord's possible tax evasion.

I like your suggestions, especially the one about selling livestock to get a downpayment.

Jim


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## ChristieAcres (Apr 11, 2009)

Yeah yeah yeah


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## farmgal (Nov 12, 2005)

If you have a lease, you are good until then. 

I dont want to say it, hind sight is 20/20, but if you are renting and have all those animals, this was clearly something that could happen. Do not act surprised.  But life is short and sometimes opportunities come along, so we take them. Life happens. 

That said, What are the options now? First, stay humble, do not get upset with the land owner. It is her place and she can do as she pleases. She did offer it to you, that is more than I can say for others. She has a life agenda, just as all of us. I do not believe it is to cause you grief. So she isnt a factor in this equation, dont waste energy there.

Your options are; save and try to buy another farm. Or find another rental farm, even if its temporary. Sounds like option 2, by what you've said about your finances.

I wouldnt get too excited about having to move right away, if you think she can't get a mortgage on the place. It also takes months for loans and inspections to go through. Meanwhile, best you can do is downsize things. start selling stuff you dont use to have some moving funds set up and less to move. Make sure you have a good running truck and trailers for hauling. I would suspect a judge would give you more time to move that much of a set up. You are not just the average renter. 

It will all work out in the end. Good luck.


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## 54metalman (Jul 12, 2011)

lorichristie said:


> The info I hage posted will help others avoid making some big mistakes... AS for the OP, just read what I wrote about establishing Credit and meeting Loan Requirements. So, none of that was helpful??? Depending on where his credit, income, and bank account is, this is very helpful. It isn't an overnight fix. If he has a written Lease the Landlord has violated, then he was also told to seek an Attorney at least once in a Post I read.
> 
> You'd be surprised at how many folks don't know how to qualify for Loans or are recovering from life's big unhappy surprises...
> 
> Also, I saw a helpful post, but it did recommend he get rid of a lot of animals. He could sell quite a few, put some $$$ down, and get a Seller Contract somewhere... It is very hard to be in that situation, but there are very few solutions to his dilemma.


Your info is VERY helpful. Sorry it has taken me a bit to get back on here. Been a bit busy LOL. She is showing the property on her taxes and is not commiting fraud as far as I know. She is just using that income to debt as an exscuse to want to sell right away. I tjhnk that is what makes me the madest. Dont lie to me just because you can. We are checking into all we can and hope to find something soon. We have made contact with an attorny to look at everything to see where we stand. I dont want to get nasty with her but will if she pushes us to hard. We are looking for a 5 year option. Be able to stay here and continue to make the payments till we can get our credit fixed to be able to buy her out. Or get someone to loan us to buy it now and in 5 years refi to buy them out with our credit fixed. A large part of our income is from the livestock. Makes it hard to sell or down size. Just have to keep trying and see what happens. We have made it this far with everything thats been thrown at us. :hrm:


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## 54metalman (Jul 12, 2011)

farmgal said:


> If you have a lease, you are good until then.
> 
> I dont want to say it, hind sight is 20/20, but if you are renting and have all those animals, this was clearly something that could happen. Do not act surprised. But life is short and sometimes opportunities come along, so we take them. Life happens.
> 
> ...


The way we got to this place is a whole other story. My soon to be wife, Katy, was living here with her boyfriend who owned the place with his ex wife. He was going to get his ex wife off the mortgage as soon as the divorce was final. It was final and settled on October 31, 2011. He passed away from a heart attack November 11, 2011. Katy (my girl) and I dated in highschool. Feb. 2, 2012, I heard what happened to John (the dead boyfriend) and sent her a note saying I was sorry and if ther was anything I could do. I hadnt talked to her since 1989!!! We started dating Feb. 14, 2012 and I moved in April 1, 2012. All the animals except the buffalo were her and John's.


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## airwolftruker (Jul 15, 2011)

My suggestion would be to go check out daveramsey.com.
Look up on his website an ELP (endorsed local provider) of real estate.
Maybe you have one close.
Also thru his website you can find church hill mortgage. They don't loook at your credit persay.

If your responsible with money, it will go along way towards getting the money you need.
Also i would try to find a credit union in your neck of the woods.
if she owes close to 400,000 onthe property and she inherited 400,000, i doubt she still has the money.
If i was in that situation i would of paid my property off.
If you cant qualify with the house try getting a land only deal.
im sure in oregon 80 acres would be a good chunk of dinero.
Also, i dont know if land loans are subject to pmi like regular mortgages are without 25 % down.
For your sanity though, start looking for your next property.
Good luck


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## Lazy J (Jan 2, 2008)

54metalman said:


> The way we got to this place is a whole other story. *My soon to be wife, Katy, was living here with her boyfriend who owned the place with his ex wife. He was going to get his ex wife off the mortgage as soon as the divorce was final.* It was final and settled on October 31, 2011. He passed away from a heart attack November 11, 2011. Katy (my girl) and I dated in highschool. Feb. 2, 2012, I heard what happened to John (the dead boyfriend) and sent her a note saying I was sorry and if ther was anything I could do. I hadnt talked to her since 1989!!! We started dating Feb. 14, 2012 and I moved in April 1, 2012. All the animals except the buffalo were her and John's.


Now that explains it all! No wonder the landlord is not willing to work with you, your fiance is "That Woman". 

All judgment aside, it sounds like it is time for you and your fiance to get married and move on. Sell the animals and start your life together with a clean slate.


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## Molly Mckee (Jul 8, 2006)

In many states you have to notify the renter by Nov 1st if you are not going to renew an ag lease. You might want to check to see if OR is one of the states requiring this. That could buy you some time.


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## rickfrosty (Jun 19, 2008)

Oh, won't let me erase the whole comment ? Good luck Dude.


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