SoCal couple buy dream home but former owner won't vacate

SoCal couple buy dream home but former owner won't vacate

SoCal couple buy dream home but former owner won't vacate
A Riverside, Calif. couple thought they bought their dream home. And they did. But their dream quickly turned in to a nightmare as the previous owner refuses to leave. They closed escrow over a year ago and have been paying their mortgage but the family that was supposed to pack up and move out are now squatting inside.

After paying $650,000 for the 4,094 square foot home, the new buyers are turning to the court system for justice to get access to their home but have repeatedly turned up empty handed. Restrictions on evocations due to the coronavirus pandemic have left them unable to get local law enforcement to take action against the squatters.

A court appearance with the previous homeowner that was supposed to be held recently was postponed for three months.

Conforming no-point 30-year fixed mortgage rates are averaging 3.0 percent and 15-year rates are near 2.25 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.