Foreclosure in Stockton>Question Details

letisha Rodr…, Home Buyer in 95209

I just got a letter on my door about the house in renting is in the process of forclosure, do I still have to pay my rent? Where can I find out?

Asked by letisha Rodriguez, 95209 Fri Jun 8, 2012

what's going on with the property ?

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letisha Rodriguez’s answer
I hear to if she tries to take me to court, the judge will just throw it out because she's not fulfilling her obligation in paying her own mortgage. Let alone taking our money so she can splurge, and we're struggling!! We're gonna buy before this house gets foreclosed, so I don't need her good reference anyways. She lowered my rent from 1400 to 1100 now I know why, she put all the bills in her name so they would think that she lives here when she doesn't! I'm pissed!
0 votes Thank Flag Link Sun Jun 10, 2012
If she takes you to court and has a signed agreement you will loose. It does not matter if she is paying her mortgage or not. Additionally if they reduced your rent that shows good faith on their part.

You may want to speak with an attorney who knows the law. Friends will tell you what they think is right but that could end up getting you in trouble.

if you try to buy and there is an eviction on your record you will not be qualifed to buy.
Flag Thu Sep 6, 2012
The law is different for each state. You should with the local laws in your area. If you are in New York, please contact me and I will provide you with additional info.
1 vote Thank Flag Link Fri Aug 24, 2012
Hello Letisha,
Your lease agreement is between you and your landlord so you must continue to pay the rent regardless if the home may be undergoing the foreclosure process.

I suggest that you contact your landlord to learn more about the situation. If your landlord refuses to speak about it then; contact the tax assessor's office or city clerk for Stockton to find out more about the status of the property.

Good luck to you!

Laura Feghali
Prudential Connecticut Realty
1 vote Thank Flag Link Fri Jun 8, 2012
Good for you, Letisha! Hopefully you'll be able to get the "Cash for keys" and use it to move on to your next home.

Will you be renting again, or looking to purchase? If purchasing, then I once again offer to assist you with getting in touch with a great local lender, and then help you find just the right home.

Call or message me if you'd like some assistance.

Randy
(209) 712-9473
0 votes Thank Flag Link Thu Sep 6, 2012
Her home went to auction on aug 3 2012. So legally I don't have to pay rent. I'm waiting for the new buyer or bank to come to the home and hopefully give me cash for keys. But will see what happens! Thanks
0 votes Thank Flag Link Thu Sep 6, 2012
Remember you can check the foreclosure status of any home in the USA for free you can do so at http://www.nyhousingcenter.com
0 votes Thank Flag Link Thu Sep 6, 2012
Hi Letisha,

If you want to live in the home you have to pay rent.

When did you sign your lease? How long is the lease? If you signed before the nod was filed and your lease is a year to year or better yet a 5 year lease and you are current, if the home does foreclose you will be protected under the tennants in foreclosure act.

The contract is between you and the homeowner, so you will have to pay rent if you want to stay there.

Typically the home owner is trying to obtain a modification as of June 2012 even rental properties may qualify for HAMP modifications and principal reductions.

If the home is foreclosed and your not paying rent you will get evicted and not have protection under the tennants in foreclosure act.

You may be able to contact the owner and re do your agreement with a reduced payment. But as long as the homeowner owns the home you will need to pay if you want to live there.
0 votes Thank Flag Link Thu Sep 6, 2012
If you signed some agreement, there should be an answer. If your agreement oral, so you can pay while you're living there.
Web Reference: http://www.indexpost.com/
0 votes Thank Flag Link Mon Jun 11, 2012
Letisha,

I certainly don't blame you for being angry. I definitely would be too if I were in your position.

Doesn't seem like she lowered your rent by much to show she wanted to keep you as a satisfied renter until something more definite was to happen with the home.

Depending on what you need in a home as far as size, location, etc., I think you may be able to purchase a home with an expected mortgage amount near what you're paying now for rent.

Let me know if you'd like a referral to a couple of great local lenders to help you get started.

Again, good luck either way.

Randy
0 votes Thank Flag Link Mon Jun 11, 2012
Hello Letisha,

The quick answer is 'YES', you still have to make your rent payment.

The longer answer is, there are two different contract agreements involved here. The one between your landlord and their mortgage co, and the other is between you and your landlord. The two agreements don't really have anything to do which each other.

As long as your rental agreement is in force, then you must make your rent payments or chance having a negative impact on your own credit.

You should definitely contact your landlord as Laura suggested to see if they'll be honest with you and discuss the current situation with the home you're living in. They're not obligated to, but they might do this depending on the relationship you have with them.

You should definitely start looking for somewhere else to live, and make sure that you turn in a 30 day notice to your landlord once you find a new place. Always follow the letter of the law/contract with your rental agreement. You may seek legal counsel as well just to be on the safe side.

Since the foreclosure process can sometimes, but not always, be a lengthy process, you might also consider re-negotiating a lower monthly rent amount that your landlord will accept if you were to stay there until something does happen with the foreclosure, then you could seek a new place to move to at that point. Your landlord may go for that so they at least have some rental income coming in while they decide what they're going to do with your home.

Most of all...GOOD LUCK!

Randy
0 votes Thank Flag Link Sun Jun 10, 2012
You should continue to pay. Your agreement is with the owner of the home and if he/she is unable to make the payment, they are obligated to send the rent to their lender. However, this doesn’t always happen.

Ultimately, you should do what’s right and take care of your obligation and protect your credit/eviction history. The owner still has the right to exercise an eviction if you are not paying rent. An eviction on your record may prevent you from being able to secure another rental in the future.

Keep in mind; you need to check with a Real Estate Attorney to understand the legal ramifications as I am not an Attorney.

I hope this helps,

“Without Question, Committed to Your Success!"
Rocky G.H. Hawrysz, Realtor
Prudential California Realty
(209) 444-6610 – Direct | Rocky@PruCalifornia.com | http://www.TeamHawrysz.com | License No. 01468373
0 votes Thank Flag Link Fri Jun 8, 2012
In a normal situation, you have two reasons for paying your rent;
You want to continue to live there, and,
You don't want your Credit to go to Heck.
Has anything changed?
This is not counting the Moral Obligation you have due to your committment.

The only question would be, to whom do you pay your rent?
I don't think this as important as keeping a record of you paying it.

In the worst case senario; you could open a Bank Account and earmark it, RENT.
0 votes Thank Flag Link Fri Jun 8, 2012
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