the house we live in is forclosed and sold my landlord didnt tell us. he is sayinghe is buying it?

Question

First of all I am a renter in california. I have been renting since august 07. first of all about 1 month ago we recieved a letter on our door stating that the house we are living in is getting forclosed. we asked the landlord who is a realto also, he sais dont worry about we are in the process of buying it. Today another realtor came over saying the house was bought by countrywide bank and the we had 2 weeks to move and he was going to give me money for cash for keys. I called my husband then he called our landlord he said dont worry about it that he is buying it. So then my husband called the realtor who had came to our door to ask him if this was true. He said there is no way he can be buying it because countrywide is giving it to them (century 21) to sell it... I dont know what to do or who to believe.. need help please

Answer 1

Know what? Doesn't matter who owns it.

If you're on a month to month lease, you have to receive notice from the true owner that the lease is coming to an end. If you're on an extended lease, you may have more rights. But you don't have to go anywhere until you get something official, preferably in writing.

In the mean time, dont sit on your a-- and wait for something bad to happen. Save your money up for a deposit somewhere else, and start looking just in case. There is apparently something messy going on, and you will NEVER have all the information on that situation.

If you live in the City of Los Angeles, you may be entitled to relocation expenses, by statute, if the true owner is forcing you to move.

Best of luck.

Answer 2

1. Do not believe anything you can not confirm with direct information. The owner's comments do not make sense. The owner can't make a monthly payment, but is somehow going to buy the property?
It sounds like the lender already has taken back the property.
2. Send a certified letter to your landlord that you will not be paying rent until he clarifies the current situation in writing to you.
3. Go to the county courthouse and look up the case related to this property. Make sure you have the parcel number.
Get information on the mortgage lenders. Ask if the county has information on your rights and do they have an office that assists renters.
4. If available, go to community office of renters rights.
5. Contact an attorney. Read your lease. You may have rights that you need to exercise. Also you may want to sue the landlord, may be a waste of time if he is broke and losing properties.
Summary - take time off work and deal with this ASAP. You may be days away from being evicted. And if that happens, the sheriff shows up and orders you out.
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Answer 3

The trustee (a disinterested 3rd party to the contract between the buyer and the lender) must post two notices during the foreclosure process. The first notice, the Notice of Default, is usually sent to the buyer via certified mail. The second notice, which comes at least 90-days after the first, is called the Notice of Trustee's Sale. This notice is actually posted on the property and is probably the notice you saw. In CA, properties may be sold at auction 21 days after the Notice of Trustee's Sale is posted.

The name and contact information for the trustee is posted on the Notice of Trustee's Sale. Contact the trustee and ask inquire as to the status of the foreclosure. Believe no one but the trustee and / or the lender.

If you are a renter and the property has been sold at auction or taken back by the lender, the law requires that you be given a 30-day Notice to Quit, which means you have 30 days to vacate. Once the 30 days expire, the eviction process can begin, which can take 6 weeks or more to complete.

Answer 4

Ok, you need to stop listening to your landlord and start listening to the LEGAL authorities that put a notice on your door with a date to vacate it.

The notice from the COURT is what you need to go by. Make a copy of it in case your landlord tries to scoot out on you later...and guard it like you would gold.

You need to move out immediately...you will come home from work one day and find out that your locks have been changed and the sheriff will remove your belongings and charge you for it.

IT IS NOT FAIR what is happening to you and it's not your fault...however, this is where the law offers ZERO protection to individuals who rent from landlords b/c when the home falls into foreclosure, you don't get a 30-day notice.

Answer 5

You need legal advice but one thing is for sure - this is not your mess, it's the landlord's mess and you SHOULD NOT trust what he's telling you.