Section 8 nightmare!!! Please…I need help!!! - Posted by Cesar
Posted by Cesar on November 23, 1999 at 21:30:15:
Not to sound desperate… but I am!!! Let me give out just a little background:
Last year, we got a deal for six townhomes in Florida, in fairly decent shape, for $40K each. They were appraising out at $63K to $70K in March of 1998, so we figured it was a good deal (which it was). We did 80% financing on all six homes and pocketed the difference (and were fairly happy).
This is where the nightmare begins…
4 out of the 6 homes were Section 8. It took them 3 months to get us our first payment, and then assured us that everything would go smoothly after that. Wrong! Almost every month they have been late on their payments, along with a few other problems:
1)They have constant inspections and pick on every tiny little detail to not pass you.
2)when they do find something wrong, they back-date the payment that you were supposed to get and don’t pay you for the month before the inspection
3)they claim to have “internal” problems or miscommunications and “forget” to put your paperwork through the right channels
4)they found out that one of the residents moved out last month and never contacted us about it until this month, and back dated the payments for the property to September!!!
5)every time we call we get transferred to about 6 different voice mails, and then no one gets back to us or the phones are busy for hours at a time
I could keep going on forever. Now, I must ask a question (finally!):
Is any of what they are doing legal? Has anyone had any expeience with them that could help me out? Does anyone know a real estate attorney that might want to pursue the situation? I live in Orlando, and the properties are near Miami (talk about a don’t wanter…) They actually kick out about $250 a month positive cash flow when they are all rented, but I am too far away to be dealing with all this b.s.
Is there any way to turn this around? Should I just give up and try to sell them out? Is there any way I can sue Section 8 for the backpayments or damages they have caused?
Will Batman and Robing survive the Penguin’s electro-freeze?
Can anyone(anyone at all!!) help me?
Thank you in advance for ANY responses or ideas…