I'm a renter in a house that is being foreclosed. I need numbers to agencies that can give me some answers.

Answer 1

call the housing agency for your city/state. This is a recent phenomena, that some states are trying to address, although the timing might not work for you.

Here's an article that I read recently.:

The mortgage mess is claiming a new group of victims: renters.

Across the country, a rising number of landlords are falling behind on mortgage payments, sending their properties into foreclosure, according to legal-services attorneys, local officials and financial experts -- and in many cases, their tenants are being forced out of their homes. Often, the tenants' first inkling of trouble occurs when they get a letter from the bank directing them to leave the premises.

"They just don't know what to do -- they leave town, move in with their mothers, end up in shelters," says Janet Merrill, an attorney with the Massachusetts Justice Project, a Worcester legal-services agency that runs a hotline for low-income people.


Strong demand and a tight supply is making for a competitive rental market in San Francisco. And experts say it will be January before the full impact of the mortgage crisis on the rental market is known.
Ms. Merrill's group gets four to five calls a day from renters facing eviction resulting from foreclosure. One caller recently received a letter from a bank saying her six-unit apartment building had gone into foreclosure and ordering her to vacate her unit by Oct. 31.

The woman, says Ms. Merrill, had lived in the apartment with her two sons for a month. Before that, they were in a unit in another building that also went into foreclosure. In that case, the woman accepted a "cash for keys" offer of $800 to leave the apartment. When she called the hotline, she told Ms. Merrill, "I want to stay here. I'm so sick of moving."

The scope of the problem recently became clear to Judith Liben, a housing attorney at the Massachusetts Law Reform Institute, a Boston legal-services center. After hearing about tenants' evictions in Massachusetts, she asked other housing advocates across the country whether they were seeing similar problems. The response -- from Nevada, California, New York and other states -- was overwhelming, she says.

In many cases, the homes and apartments entering foreclosure are owned by investors who got low-rate teaser mortgages and intended to hold the buildings for a few years and then sell them at a profit -- before their mortgage rates rose. Now, with the housing market badly depressed in many markets, the owners can't sell the homes or afford the higher mortgage payments. Many are defaulting.

In most states, says Ms. Liben, foreclosure voids leases, and banks move quickly to get tenants out. "Depending upon the state, tenants get between three and 30 days notice," she says. A few states have laws protecting tenants from eviction in the event of foreclosure, and others are moving to give renters more notice, Ms. Liben says.

Renters' woes are beginning to attract wider attention. Yesterday, Eric Rosengren, in his first speech as president of the Federal Reserve Bank of Boston, said that the high number of foreclosures on multifamily homes in parts of Massachusetts "highlights a potentially serious problem for tenants, who may not have known that the owner might be in a precarious financial position."

Ms. Liben summed up the problem in testimony last month before the House Financial Services Committee: "It is now clear that, nationwide, tenants who did nothing wrong except to rent from a defaulting owner are suffering harsh collateral damage from the mortgage fallout." She added that foreclosing banks often refuse to pay the utility bills or make repairs on the properties.

In Hennepin County, Minn., which includes Minneapolis and its suburbs, there were more than 3,000 foreclosures last year -- nearly twice the 2005 number. "You just wouldn't believe it here," says Amber Hawkins, an attorney with the Foreclosure Relief Law Project, part of the nonprofit Housing Preservation Project based in St. Paul. "There are areas of [North Minneapolis] that are just decimated. House after house is boarded, vacant and abandoned."

Ms. Hawkins says that banks have traditionally pressed renters to leave quickly so that they can resell the property. But, she adds, "nothing is selling right now." As a result, empty buildings end up sitting on the market and become "magnets for criminal activity."

That also means there are fewer homes to rent -- even though the number of renters isn't declining.

Danilo Pelletiere, research director at the National Low Income Housing Coalition in Washington, says that in the short term, the number of renters is going to rise faster than the number of available units. "What do you do with the foreclosed homes?" he says. "[Low-income renters] can't necessarily move to a vacant McMansion somewhere out in the suburbs."

Ms. Merrill says the lack of affordable rental units is a huge problem in her area of Massachusetts. "People are applying now for public and subsidized housing," she says, but the waiting lists are long and the alternatives are bleak. Even if Ms. Merrill can find her twice-evicted client another acceptable apartment, she says, "how does she know another place won't be foreclosed on too?"

Answer 2

2

Answer 3

I in basic terms study each and every of the solutions, and maximum of them are searching at it from an extremely slender perspective. Its a scam, its no longer a scam, your funds will provide up the foreclosure.... the reality is, you do not have any administration over even if this living house is going to foreclosure. If it does, then definite - faster or later you may ought to vacate. the in basic terms exception might want to be in case your lease contract become signed and dated before the loan contract it really is being foreclosed upon. both way - there is no thanks to understand what the proprietors intentions are. you may attempt to confer with them via the leasing corporation. there is no scam occurring - you acquire a house that you loved and wanted to employ, you're at the moment renting it... so that you have become what you paid for. the very undeniable truth that you'll properly be requested to go away early at no fault of your own is outdoors your administration. in case you have not already moved in - then definite, i imagine you've a robust reason to attempt to terminate the lease contract, and that i imagine any small claims courtroom might want to back you up. And definite, the Leasing corporation does have it maximum ideal - if the living house does foreclose, then you now no longer ought to make funds (because it does no longer belong to the owner anymore). then you may stay lease free till you're given be conscious to vacate.

Answer 4

Robin-
look in your white pages for "Renters Advocates" or "Renters Assistance"...these agencies assist renters for free and most large cities have thest ype of agencies.
I live in San Diego, CA and they are out here.

As for the home and you---- you need to get out ---the house is in foreclosure and if you are not out before it goes to trustee sale - afterwards you will be served eviction notice which will go on your credit...and u dont want that.
get other living arrangements NOW....you owe nothing to the landlord, as he cannot even pay his mortgage....put your money towards another residence.

good luck :)

ps...my son went through this recently and the above is the exact advice he got from an attorney.

Answer 5

If you are living in a single family rental unit, I'd advise you start searching for other living accommodations. Banks/lenders generally sell single family units as quickly as possible, and most purchasers are not looking at such properties as rental investments. They are generally purchased for owner occupancy. Hence, the bank most probably will give you notice to vacate as soon as it takes possession. Even if you have a longer term lease, those are generally not honored when ownership changes hands through foreclosure.

Answer 6

Answers to what questions?

The foreclosure essentially terminates your lease.

The bank will likely be giving you notice to vacate once it takes possession.

Answer 7

What type of foreclosure?.Anyways why waste all you time with dealing with someones else headache ...Start looking for another place..Or better yet buy it..It may run pretty cheap...

Answer 8

Rent To Own Homes - http://RentToOwnHome.uzaev.com/?YiEA