Foreclosure in 92672>Question Details

Becky, Other/Just Looking in 92672

I rent a huse that is in forclsure, Im 3days bhind rent, owner post 3 day notice on my dor the property is 503 elena ln sc, ca. who do I send the rnt?

Asked by Becky, 92672 Fri Dec 11, 2009

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7
Becky,
as an agent who has sold many income producing properties, 9 times out of 10 the buyer of a property wants a good tenant that always pays on time.

The owner of the property could cure their pre-foreclosure issues, the property could sale maybe buy conventional sale or short sale.

Remember this, you do have rights as a tenant, the new Obama laws on tenancy and foreclosure give you 90 days or the length of your lease whichever is longer. Then the the banks typically wont just throw you out many will offer cash for keys which will definitely help with a new security deposit.

hope this helps,
Randy

Randy Marshall
Century 21 O.M.A.
229 Avenida Del Mar
San Clemente Ca 92672
949-492-5413
1 vote Thank Flag Link Sat Dec 12, 2009
I see you're renting in a triplex, although there may not be a for sale sign out front, this triplex IS on the market for sale. From what I'm seeing the owner has not been issued a Notice of Default letter yet, it could be that they're not making payments, but the property is listed to sell OVER what is owed.

Your lease agreement should give you a 5 day grace period for paying your rent. They shouldn't be able to kick you out after being only 3days late. IF there is a property manager, you should call that person TODAY.

Otherwise, here is the phone number for the agent who has the property listed for sale. 949-292-1418 his name is Thomas. I don't see why the landlord would want to kick you out at this point, it's better for him to continue to collect rent & for you to remain in the property, maybe the new owner will want to keep you on as a tenant.

Let me know if you have any other questions

emilyknell1@yahoo.com
562-430-3053 cell
1 vote Thank Flag Link Fri Dec 11, 2009
Becky,
just pay your rent, they still own the property until a bank contacts you.
1 vote Thank Flag Link Fri Dec 11, 2009
Hi Becky,

Please bookmark these links ... just in case you DO get a notification at some point. It's always helpful to know your rights, as a renter or whatever!

http://tenantsforeclosure.blogspot.com/
http://tenantsforeclosure.blogspot.com/2009/01/on-security-d…
http://www.rentlaw.com/california.htm
http://www.dca.ca.gov/publications/landlordbook/sec-deposit.shtml
0 votes Thank Flag Link Fri Dec 11, 2009
I or we have not received anything jet but my husband is getting nervous, thinking we have to move , and we dont have money for a security at this moment. I thought asking so we can make an inform decision thank you very much to all who answer I can send my check now! Becky.
0 votes Thank Flag Link Fri Dec 11, 2009
Hi Becky,

I am sorry that you have to deal with this. Your house is in a great location in San Clemente.

If your landlord still owns the house you should continue paying him. If the owner lost the house to the bank due to foreclosure you should get a notice. Did you get any notice from the Bank? Let me know.
Good luck and I like to hear from you
0 votes Thank Flag Link Fri Dec 11, 2009
Hi Becky,

Did you receive ANY official written notification from your town or the owner's bank, etc - that would indicate that your building is in foreclosure? Would you please let us know?

Generally you must continue to pay your rent. But I believe that CA state law has provisions to protect yourself regarding your security deposit - again - IF the building is actually in foreclosure.
0 votes Thank Flag Link Fri Dec 11, 2009
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