Foreclosure in 92324>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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7
Brittnee Koska’s answer
I am so sorry to hear that. Unfortunately it means that the home owner was collecting your monthly rent, but not paying their mortgage. I would suggest that you start looking for another place to rent and make sure that when you do find a listed rental, you have the agent run a title search to see if there are any liens on the property to prevent this from reoccurring.
0 votes Thank Flag Link Fri Apr 20, 2012
There are a lot of questions that need to be answered to know what you need to do. Do you have a lease, or are you on a month-to-month? Who is the lender? Is there more than one lien on the property? What did the notice say? Is there a foreclosure sale date set yet?

You could be in a good position, depending on the timing and who buys the property. Investors make-up a large percentage of buyers these days, and the best thing for them is to have a tenant already moved-in. On the other hand the home could sell to someone that wants to move in which means you’ll have to move. I know this is a scary situation for you to be in, but you do have rights as a tenant. Ask lots of questions and get professional help if you are not comfortable with what you are being told.
Web Reference: http://www.SacRELender.com
0 votes Thank Flag Link Mon Apr 23, 2012
we have a year lease< posted letter said auction on May 22, 2012 @ 9am. Dont know who lender is or if there are leins on the property. How could I find all this out?
Flag Tue Apr 24, 2012
Sorry to hear! Start looking for a new place as soon as you can
0 votes Thank Flag Link Sun Apr 22, 2012
Sit tight. You may get a cash for keys offer.
0 votes Thank Flag Link Sun Apr 22, 2012
If the home sells at auction then the new owner will make arrangements with to either move (within 30-60 days) or see if you are interested in renting the property. I am not sure where you are renting at yet but I do have a few homes available for renting in Victorville and Hesperia
0 votes Thank Flag Link Fri Apr 20, 2012
We will see what happens going to wait until 5/22 auction. I would to get posting about any properties in this area, Colton as well as Victorville, Fontana, Riverside. You can email me at fpwshellz@aol.com
Thank you
Flag Sat Apr 21, 2012
Not sure where you live but, According to section 24.005 of the Texas Property Code, the tenant must receive at least 30 days written notice to vacate after foreclosure, providing the tenant has timely paid the rent during the month of foreclosure.
0 votes Thank Flag Link Fri Apr 20, 2012
I would start planning on the possibility of needing to move. If the home you are renting gets sold at the auction or by the bank afterwards there is a possibility that the buyer of the home will be an investor and may let you stay in the house as their tenants.
0 votes Thank Flag Link Thu Apr 19, 2012
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