Condo Renters Live In Limbo In Boston "Triple Decker" As Investor/Landlords Stiff Mortgage Lenders & Go AWOL

In Boston, Massachusetts, Open Media Boston reports:

• Wanda Castle does just about everything the owner of a Boston triple-decker would do to maintain her property, including basic repairs and paying for water and electricity in common areas of the building. And if this were a normal situation, Ms. Castle – who has lived in this building on the Roxbury/Jamaica Plain border as a tenant for two and a half years - would be paying a regular, stable, rent to live there.

• But the situation is anything but normal. Wanda Castle, her fourteen year old daughter, and her neighbor Inell Mendez, are living in limbo as the banks and mortgage service companies that own the three separate condo units of this triple-decker figure out what to do with these properties sitting on the edge of foreclosure; known in banking parlance as “non-performing assets.” The mortgages, apparently, are in default, but according to Ms. Castle, she and her neighbors have not received an official notification of foreclosure or eviction.

For more, see Tenants Left In Limbo by Missing Condo Owners; Advocates Call On Banks To Help Create Housing Coops. RentSigmaSkimming