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#196258 - 01/23/08 03:02 PM Re: Landlord Foreclosures - Let The Renter Beware [Re: Livechatrealtor]
lgraham Offline
Junior Member

Registered: 01/23/08
Posts: 4
Loc: USA
That happened to my husband and I in one of the homes that we had rented in the early years of our marriage. We had been living in the home for 2 months shy of a year when one morning we found a note from the sheriff on our door stating that the home would be auctioned off in less than a month. We owned multiple pets and in our town it was nearly impossible to find a rental that would allow multiple pets and was in our budget. That scared us because these dogs had been in my husband's family since he was 15 and we would not be able to find new homes for them easily due to their age.

I called the number on the note that was on our door and was told that we needed to be out by the date on the note (we were not given any options to rent from the lender) but that if we were not that we would be evicted and that would buy us a little bit of time. He felt sorry for us because of the fact that we were tenants and had no idea that this was coming (our landlord has just told us that he wanted us to extend our lease).

Since the auction was being handled by the Sheriff we had no way of contacting the lender - we did not even know who our landlord's lender was. It was going to be auctioned off by the Sheriff and that was that.

We were very blessed and found a new home almost right away - it was above our budget but one of my husband's friends from work rented a room from us so it worked out and we got to keep our dogs. If we had not found a pet-friendly landlord at that time, though, who knows where we would have gone and what would have happened to our pets.

Listen to AlexShay - from our experience he is offering good advice.

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#196286 - 01/23/08 04:29 PM Re: Landlord Foreclosures - Let The Renter Beware [Re: carrot]
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3370
Loc: Central Illinois
Sad story but it would have taken far longer to get them out had they simply stayed and stopped paying rent to save for a new downpayment until the REO agent showed up at the door with a cash for keys offer. Far too many people do not know their rights.


 Originally Posted By: carrot
Our neighbors accross the street a young couple with kids woke up one day to two foreclosure signs on there front yard. They rent a house and when they called where told they had to be out by end of month two weeks before Christmas. They moved in 8 months ago and paid rent and homeowner never paid bank anything. They lost there deposit and having to move right at the holidays was hard. This guy forclosed on numerous properties. I felt so sorry for them but was an eye opener about renting right now.

_________________________
Paul Oaks
Oaks Real Estate Group

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#196307 - 01/23/08 05:46 PM Re: Landlord Foreclosures - Let The Renter Beware [Re: Concepts05]
Retsof Yor Offline
Veteran Member

Registered: 12/03/05
Posts: 692
Loc: South Central Kansas
Yeah...

It is also the way of the REO lenders I work with here on f/c properties regardless of SFD or MF status in any configuration.

I have one in PreFC that at best reminds me of a mix between *driving miss daisy and fried green tomatoes*

I admit liking these two chick flicks but here, miss daisy doesn't have a car and her toto is really big!

counting the days...
_________________________
Roy J Foster, KS Lic #BR0039462
R J Foster & Assoc., LLC
Cert. A*REO Agent
Cert. FHA Inspector ID G551
Cert. FHA 203K Consultant ID D0631
Cert. FHA LBP Maintenance Supvr ID 7534
Cert. Vendor Resource Management REO Specialist
316-771-7419
http://www.investment-properties.org

"I am only as strong as the coffee I drink and the hairspray I use."

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