01.20.10 - 12:58 pm

Julie and Jordan-
The owner has made 3 attempts to modify the mortgage on the property you are renting, 11584 SW Graven St, and the modification has been denied all 3 times. What this means is that the home will be going back to the bank and will be foreclosed upon- this will be official on 1-25-10. I have just been informed of this information but know that there are laws in place protecting tenants in the event of a foreclosure but I am not an attorney and do not feel comfortable quoting the law. You will not be required to pay rent to Sage NW for February and the bank will likely be in touch with you after the foreclosure is finalized to give you instructions on what to do. If you have a balance owing Sage NW you will still be responsible to pay that, and any deposits you have currently with Sage NW will be applied towards the past due balance. The remainder of any balance we are holding will be returned to you promptly after the foreclosure has been finalized.
I am sorry to have to deliver such stressful news and wish you the best. I would be happy to try and answer any questions you may have or pass any message along to the owner.
Thank you,

Faith O�Billovich
Sage NW Management
Property Manager