the house my sister has rented for the last 4 years has went into forclosure and the owner hasnt paid the
bank since dec 2008 while my sister and her husband havent missed a rental payment,Now they have been told the house will be up for a trustee sale april 29th, Does my sister have to pay rent for march and april ? She is trying to find another home but shes worried not paying will effect her credit score .Any information would be very helpful.She lives in Gilbert az area
Hi Sidney,
As you know, by law the bank or the new owner has to honor a lease contract.
If your sister is still looking for a place to rent or buy I would be pleased to help.
This is a great time to buy. The $8,000 tax credit has been re-instated for first timers or those that have not owned in three years. There is now a $6,500 Tax credit for existing homeowners. Additionally if you do purchase a foreclosure property, free grant money (up to 22% of the purchase price) is available if you live in the home for periods of 5, 10, or 15 years. This makes inexpensive homes already, even more affordable. Cheaper than renting.
If I can answer any more questions or show you some homes, feel free to give me a call. I would be pleased to help you...Regards, Jeff
Jeff Masich, Realtor®
Arizona Homes and Land
http://ArizonaHomesLand.com
480-556-0940
jmasich@usa.com
HomeSmart Real Estate
It is to my understanding that once the bank actually owns the house-go to the maricopa county tax accessors page and enter the address) the landlord no longer owns the house. So your sister could work out some sort of rental agreement with the bank. i would be VERY cautious about paying rent fgor the last month. Did she leave a deposit? Personally I would pay last months rent out of the deposit since it is VERY likelty she is not getting her deposit back.
The landlord has an obligation to prevent the home from entering a trustee's sale. The landlord has breached this obligation, the results of which have now become a legal matter between the landlord and the tenant.
For your sister's sake, hopefully they can work out an equitable agreement, without requiring a lawyer be involved, but a breach of contract is something that a lawyer would normally advise you how to deal with.
a) She needs contact property owner determine what is taking place, owner may have worked deal out with lender
b) If owner agrees not take payment she needs receive that in writing release her from lease agreement
c) She is obligated to abide my executed lease agreement if not she could be sued.
Good luck
Lynn911 – ~ National Featured Realtor
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