Foreclosure in 95404>Question Details

Unhappyright…, Renter in 92324

Came home to a posted letter stating that the house we are renting is going up for auction on 5/22/2012 What do we do from here?

Asked by Unhappyrightnow, 92324 Thu Apr 19, 2012

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Unhappyrightnow:

As a Renter you should be aware of the following informational sources/links:

CA's "Protecting Tenants at Foreclosure Act" - need to know info!
http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/…

The "ends and outs" of renting from the Landlord and Renter positions.
http://docs.Steven-Anthony.com/Landlord-TenantGuideCA2010.pdf AND http://www.nolo.com/legal-encyclopedia/renters-rights

-Steve
0 votes Thank Flag Link Thu Apr 19, 2012
Real estate agent cannot give a legal advice, and looks like you need one. It is all depense how you renting, month to month, lease.
0 votes Thank Flag Link Thu Apr 19, 2012
Contact your landlord and your attorney.
0 votes Thank Flag Link Thu Apr 19, 2012
Welcome to being cheated by the home owner. Obviously they have been keeping your rent and not paying the mortgage. It is highly likely you will not see your security deposit back, either.

The house will most likely be auctioned at the courthouse steps on 5/22 and probably the bank will take it back.

CA law protects a tenant, who has a written rental agreement and is occupying a house that is sold at foreclosure auction, by giving the tenant 90 days in the house before having to vacate. Sometimes a bank or new owner will try to get you to leave early with a "cash for keys" offer. You can accept or reject, it's up to you.

If the bank takes it back, and an agent comes to the house with a cash for keys offer, just remember that the bank has given that agent probably around $4,000 to work with and whatever they don't give you as cash to move out, they get to keep. Welcome to dealing with others who do NOT have your best interests at heart.

FOR ALL RENTERS: please just email me an address prior to renting a house. I will look it up to verify if that house is in foreclosure or not. Don't get caught like this.

And owners that do this are violating the law and it's called "skimming the rents." I would recommend you ask the owner prior to move in if they are "skimming the rents." You'll probably be able to tell by their answer what is going on. If in any doubt, email me.

Best of luck to all. cjholmes@cjholmes.com 707-578-5727
0 votes Thank Flag Link Thu Apr 19, 2012
Just because the house is going up for auction does not necessarily mean it will sell at auction which could buy you a little more time. Many times houses languish in the pre-foreclosure stage for months on end. However, if the house does sell at auction AND the new owner wants to move into the house, recent federal law says the new owner must give you written notice that you have 90 days to vacate. To be guaranteed your 90 days, you must be a tenant with a written unexpired lease AND be a tenant who is paying his/her rent on time. There's also some "cash for keys" offers being made which means that if you are willing to move out and leave the property clean, you can sometimes get paid. The best thing you can do is contact the person/company who sent the letter to see WHEN the house is going up for auction and see what options are available to you. My advice to you is to negotiate the best deal for yourself.
0 votes Thank Flag Link Thu Apr 19, 2012
Let me clarify that even without a lease you still have 90 days to vacate from the date of the foreclosure sale; with a written lease you can stay until the end of your lease term UNLESS the new owner wants to actually live in the property.
Flag Thu Apr 19, 2012
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