We moved into a house this past September..the owner closed in October and we just got a notice that it is going into foreclosure by the clerk of courts....although we have paid our rent on time and given her almost 7k she has not made a single payment, advice please:
1. what are our possible options
2. how long from beginning to end (basically how much longer do we have to stay here)
3. what is the possibility we are going to get our $1200 deposit back
4. what are our legal rights?
5. Is it possible that this is bank fraud? the owner is from the Bronx and we are in Florida, I just find it hard to believe that she has paid Nothing in 4 months out of the money we have given them..I am wondering if they did an 80-20 loans with false documentation...it is possible, I have seen it happen before in another different situation to a friend - identity theft
We planned on living here for two years while we found a piece of land and built a house, not really wanting to move again
2007-01-22 15:50:01 · 7 answers · asked by Mom of Four 4 in Business & Finance ➔ Renting & Real Estate
Sorry I meant her first payment was due Oct 1st
2007-01-22 15:54:21 · update #1
We signed a year lease, so it is until 9-15-07
2007-01-22 16:04:50 · update #2
This is unlawful. You must seek the help of an attorney. The landlord must inform you within an adequate period that the property will be going into foreclosure. You need receipts of the payments you've made via check, etc. to the landlord. If you win... and most likely you will... the lawsuit, you will be reimbursed your deposit+ any expenses incurred while you were forced out of the home.(Hotel stay/other rent) So keep the records from those expenses as well.
Now, unfortunately... you will have to move out. The bank doesn't really give a damn who you've paid what to... they just care about the money they haven't gotten. You'll also want to take a copy of your rental agreement to the attorney with the checks/documentation of payment to the landlord.
Good luck.
2007-01-22 16:05:38 · answer #1 · answered by ? 3 · 1⤊ 0⤋
It could very well be fraud. Granted your claim might be pretty minor compared to the lender. If you wanted to take legal action speak with a lawyer.
The process can be short of long. It depends on the state and what the owner does to slow things down. Some places can be as short as 21 days while others are a minimum of multiple months.
Very likely you should not pay any further rent. This will help balance the books if your deposit is lost. Be prepared to move. Legally you have a right to be there is the owner is really the owner. Your lease will remain valid until the foreclosure finishes.
Expects to be visited by a number of investors who track foreclosures.
2007-01-22 17:39:47 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The first thing to do is to look at your lease. If the lease is for a specific term, it is binding on the present owner and on anyone who acquires title in a foreclosure action. If your lease is month to month, a new owner can kick you out, or choose to keep you as tenants if you can agree on terms. The foreclosure action raises a question as to who should receive the rent; the lender has the right under the mortgage to collect the rent if the loan is in default. Contact the lender to see about this. Also, consider whether you are interested in buying the place yourself; if so, advise the lender, and after the lender acquires title, you could do a deal, which would make the lender very happy, as they do not want to be owners of property -- managing it is a nuisance. If you pull this off, but don't want to live there indefinitely, fix the place up, sell it, and buy something that you want. Lots of headaches here, but it's all manageable with a bit of persistence. As for your deposit, that will be a problem; most states give tenants specific rights with respect to deposits, and you should inquire locally as to what these are in Florida. The notice of default will specify the date of the proposed sale; if you aren't staying, you will need to move out either by that date or shortly thereafter (unless, as noted above, your lease runs longer).
2007-01-22 16:02:49 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Foreclosures are increasing at an alarming rate; with this same type of scenario.
I would seek the advice of an attorney, if you didn't work with a Realtor in securing the rental.
The Notice Of Default = 120 days typically.
2007-01-22 15:56:55 · answer #4 · answered by ☼High☼Voltage☼Blonde☼ 4 · 1⤊ 0⤋
Sounds like fraud
Contact the authorities as well as the bank that has the mortgage
I would arrange to make payments directly to the bank (lender)
I would also go to small claims court if you are unable to recover the $1200 deposit.
Hard lesson to learn but you never know who you're dealing with. I usually go through a realtor or a company specializing in rentals. The small extra cost is not always the best deal
2007-01-27 05:53:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I am an independent associate for a company. We might be able to help you get a lawyer and make sure your identity was not stolen. The lawyer can answer all of your questions, as well as represent you if needed. We will send you a credit report, so you can check to make sure mothing is on it and then, we will monitor it for you. If you have disputes, we wil clear them up. This might be something very helpful to you and your family!
2007-01-23 09:24:41 · answer #6 · answered by gatorgirl 5 · 0⤊ 0⤋
Rent To Own Home - http://RentToOwnHome.uzaev.com/?gPOW
2016-07-11 15:35:03 · answer #7 · answered by ? 3 · 0⤊ 0⤋