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If you are a renter...

Published:

it wouldn't hurt you to make sure that your landlord is paying the mortgage on the place. If where you dwell is foreclosed on, you can be unceremoniously booted out by the sheriff (15mins to an hour notice), even though your rent payments are up to date.

Nah, that'll never happen here, right? Shocked

Entry #130

Comments

1.
truecriticComment by truecritic - July 15, 2008, 3:39 am
I have seen people evicted...I wouldn't call it UNCEREMONIOUSLY!
All their belongings all over the front yard!
lol

(not really funny though).
2.
justxploringComment by justxploring - July 15, 2008, 3:47 am
15 minutes? Nah! However, I agree in many cases the tenant is in deep doo-doo and is often told to move in 72 hrs. The tenant can also be held responsible for other unpaid bills. This is nothing new, but it's become a bigger problem recently. In most cases, the tenants do not know their rights. Some states have laws protect a tenant for 30 days after the bank/new owner takes over the property. Unfortunately, the people who are supposed to uphold the Law often do not understand it.   What ever happened to that mortgage reform act that was before Congress last year? That was supposed to give tenants 90 days after foreclosure, if I'm not mistaken, but who can keep up with all this chaos?

BTW, I know you aren't directing your "that'll never happen here" comment at lil old me (or are you?) However, in a thread I did say something similar, but it was "that won't happen to ME" Every situation is different. If you really want to read something depressing, this article from last month is about the people being thrown out on the streets of So FL. www.nytimes.com/2008/06/04/us/04evict.html


3.
time*treatComment by time*treat - July 15, 2008, 9:38 am
There have always been people who didn't pay rent on time. I'm not counting them.
I'm saying people who *do* pay their rent may find the house foreclosed on. While there is plenty of time between that day and the eviction day, many folks won't be warned (some unethical people will even still collect rent money) that they have to find a new place to live. The knock on the door will be their first notice & last notice. Don't forget, the laws vary by state. I have seen cases where people only got 2 hrs.
4.
justxploringComment by justxploring - July 15, 2008, 2:08 pm
I've seen people forced to move too, time*treat, for a different reason. You might also want to mention that often a home that hasn't been maintained has electrical or structural problems not revealed to a renter. Mold for example. If the Board of Health condemns a building, you might have to vacate immediately and move into a motel. BTW I don't have a lease and I am well aware I could be tossed out if this place is sold. (can't be foreclosed. he paid cash) I doubt if the doctor who owns this would stop paying his property taxes or assessments, but who knows? As I said, every situation is different. Sure, anything could happen & I know that every night when I go to bed. I also know I could be struck by lightning or have a heart attack. I don't walk around wearing rose colored glasses like you think. But a couple of months ago I negotiated a new fridge and lower rent by threatening to move. People who want to hang onto their properties aren't going to let a desirable tenant go. Anyway, as my first comment indicated, I think your advice is very good. Every renter should make sure their home isn't in foreclosure and that related bills are being paid also (like and HOA fee) When an owner stops taking care of a property (ex: fixing the roof, repairing a leaky toilet) that's a sign that he isn't interested in owning it too much longer.

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