Foreclosure in 85253>Question Details

Rebecca, Home Buyer in Paradise Valley, AZ

The unit I live in is in foreclosure and slated for auction august 18, I have contacted the owners who state

Asked by Rebecca, Paradise Valley, AZ Sat May 31, 2008

they know nothing of this. Is this site accurate? How do I protect my rights as a tenant and get confrimation that the property is clear?

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Absolutely not, your lease is with the owner who lost the home, if that loan was for a residential Mortgage, the owner was renting out of the outlines of the loan and you can be removed far sooner than 90 days and the bank does not have to recognize your rental as even being legal. Come on agents think!
0 votes Thank Flag Link Fri Jul 22, 2011
Rebecca,

You have 90 days after the foreclosure sale date or till the end of your term lease - whichever is longer. If you need confirmation, I would call the bank that is foreclosing on the property. Secondly, if you need a new place to go, I would love to help you find a place. Just let me know. If you have any other questions, please feel free to give me a call/email. Have a great day Rebecca!

-Rob
0 votes Thank Flag Link Fri Jul 22, 2011
Was the notice posted on your unit? If so, the sale's for real ... you can verify it at the Maricopa County recorder's site as mentioned below. If you've never seen the notice posted, then there should not be a sale scheduled unless someone else removed the notice before you saw it.

Seems odds that your owner doesn't know about it, though. As a rule, people tend to know whether they've made their last three mortgage payments.

Hopefully there's some sort of mistake that's been made, otherwise the unit's going to be sold by the bank on August 18 unless the owners get caught up on their payments.
0 votes Thank Flag Link Sun Jun 1, 2008
Hi Rebecca,
It is possible that the owners may not know they are in foreclosure. Believe it or not, a lot of owners don't even know they are in foreclosure, possibly because the county government has an outdated or incorrect mailing address for them or maybe they don't open their notices from their lender b/c they pay their bills online. There a any number of reasons that they may not know, or they could just not be telling you the truth. Regardless, you do have rights as a tenant.
Your rights as a tenant are spelled out in the Arizona Residential Landlor Tenant Act (ARLTA). http://www.azsos.gov/public_services/Publications/Residentia… . Tha's the link to this important document & will give you the information you need about your rights. If your unit is in forclosure, goes to auction and is either bought at the auction or goes back to the bank, your lease may no longer valid, and you could be evicted. You need to learn how you can protect yourself.
To confirm if the property was or is in foreclosure, you could do the research yourself or have a Real Estate agent do it for you (possibly a bit faster). Go to http://www.Maricopa.gov. Then, on the left side under "Quick Links," click on "recorded docs." Now, enter the owner's name & search for a document with a document code of "N/TR SALE" to see if your unit was or is in foreclosure. It's also possible that if it was in foreclosure, that it has been cancelled. You can search for this by using the document code "C/N D/T." But, once again, you may be better off allowing a Real Estate agent help you with this, b/c if your owner is really in foreclosure, an agent can help you by helping the owner of your unit by giving everyone the knowledge & information they need to make good decisions.
I hope my information has been helpful.

---
Paul Welden
0 votes Thank Flag Link Sun Jun 1, 2008
You can go to the County Recorder site and research public records for a Notice of Trustees Sale recorded under the property owners name - document code N/TR SALE - and also research Cancellation Of Notice of Trustees Sale - document code C/N D/T
0 votes Thank Flag Link Sat May 31, 2008
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