I live on top of a grocery store and the bank is repossessing it cause of the owners inability to pay the mortgage. I've always paid my rent on time and i'm currently living alone with my 3 children ages 14,5,and 2. My husband is currently serving in Baghdad, Iraq. He's in the army, but the whole deal is that the owner told me this news about 1 month ago but he kept saying he was working on the problem but now hw says that i have to go before the sherriffs come and throw me out with all my stuff. I can't believe what's happening to us. I need some help. I need to know what my rights are as a tenant in Puerto Rico. Can I really get thrown into the street just like that. I'm really worried. I'm losing sleep over this. Need answers fast. This is a 911. Thank You for any help available and God Bless
2007-06-23 12:41:17 · 6 answers · asked by nellie 2 in Business & Finance ➔ Renting & Real Estate
Nellie- It may take several months for a foreclosure to occur, you have time, Is it possible that the present landlord give you an extended lease. If the bank takes over the property you more than likely will be able to continue as a tenant.
The big picture, is you may want to look for another rental.
You may want to talk with some tenants right groups in Puerto Rico as to your individual rights.
Prayers to you and your family
2007-06-23 12:59:12 · answer #1 · answered by Jimmy 5 · 0⤊ 2⤋
Try to get somebody to buy the property. Put up a sign, send out flyers, advertise on craigslist.com, whatever. If you can get someone (an investor) to buy the property (pay off the debt that the bank is requesting and assume the mortgage balance) before the property goes to foreclosure, you may have a shot. It depends on what the new owner wants to do with the property. Hopefully, you and your family staying there will fit in to the investor's game plan (keep in mind, the new owner does have the right to kick you out, it all depends on what he/she wants to do with the property). As far as I can see, this is your only shot. God Bless you and your family. I really really hope it works out for you. If anyone else has more ideas, please post them.
2007-06-23 13:06:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I don't know the laws in your area, but in California the bank (or new owner) will evict you because the foreclosure wipes out any junior liens (like a lease). You should look for a new place and see if the US government has anything for spouses of military personnel.
Regards
2007-06-23 15:46:11 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Most leases and laws have whats called a "mortgages rights". it states that whom ever owns the property. if its sold forclosed by the bank. your lease will remain in tac until it expires. then the landlord (bank) would have the right to give you whats called a non-renewal. meaning they want renew your lease. That is if thats what they want. some people, maybe even a bank want to sell with the apartment rented. means that the building (property) is recieving money, and thats makes it more salable and valuable. I would not worry
2007-06-23 15:15:03 · answer #4 · answered by Eden 3 · 0⤊ 0⤋
Unless you are named in the foreclosure, the bank cannot throw you out of your apartment. If you are not yet named as a defendant in the foreclosure, try not to call attention to yourself to the bank. At some point, the bank will probably figure out who you are, and name you as a defendant in the foreclosure. Once you receive papers naming you in the foreclosure, you should file an appearance form.
The bank may get a court order appointing a "receiver of rents." You must then pay rent to the receiver instead of to your landlord. If you do not pay the rent to the receiver, you could be evicted for nonpayment of rent.
2007-06-23 13:19:26 · answer #5 · answered by shybutnaughty 1 · 0⤊ 2⤋
You need to contact county social services for help. Or ask for help from your church.
2007-06-23 12:57:45 · answer #6 · answered by Alterfemego 7 · 0⤊ 0⤋