Foreclosure in Queen Creek>Question Details

Joe, Other/Just Looking in Queen Creek, AZ

the house We rent being my wife 2 older teenagers and myself is being auctioned in june PLEASE HELP

Asked by Joe, Queen Creek, AZ Tue Mar 24, 2009

my 12 month lease my wife and i signed with a property manager not the owner,I feel was drawn up with them having every intention of givin up the home ,i feel they strung me out dry and threw me under the bus!
I apologize for my spelling and punctuation,nevr been much of a writer but the more i look the more i see as renters we have no rights.some say pay rent some say @#$% the rent ive always payed my rent bye the first but im realy scared if i give him his rent there gonna stick me and not give me back my deposits ,wich will leave me and my family in the street whith no $$$ im currently not working but i always manage to get odd jobs done to pay my bills rent through theese hard times and who says the next lease i sign isnt already in the embrionic stage of forclosure itself. If i find a place with the rent i like before auction time should i take it
or sit her at thisplace and wait for the sherriff to knock

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8
Stew raises an interesting point: stop paying rent. if you opt to use this strategy, then you should arrange to escrow your rent until you've resolved the issues with your deposit(s), because you still owe the landlord rent--regardless of whether or not his/her property is in foreclosure.

In any case, whether you opt to stay or go you have several options.
1 vote Thank Flag Link Tue Mar 24, 2009
Have you ever considered trying to purchase this property instead of renting? You could contact an investor (ie a "we buy houses" person), and tell him/her about this property. Also, tell him/her that you'd be interested in purchasing this property for a certain price with a subject-to mortgage, provided s/he buys the property from the lender as a short-sale.

Alternatively, if you don't want to buy the property, then you could still approach an investor, ask if s/he is interested in purchasing that property as a short-sale, and tell him/her that you'd like to continue renting there.

In either case, you'd be bringing a deal with nice upside to that investor, and you should even be able to negotiate some kind of discount on the rent or sales price as a thank-you for bringing that deal to him/her.

Besides the "we buy houses" people, you could also market this deal to people in one of the local REI clubs in your area.
1 vote Thank Flag Link Tue Mar 24, 2009
Stop paying your rent? How can we advise someone to violate the terms of their lease without knowing all the facts. The ramifications of breaking a lease will lead to evictions, and judgements. So long to the good rental history.
Start renting another home without employment? Rental verification which will show that they are committed to a 12 month lease?

Slow down, exhaust all options first. Let`s not throw the home out with the bath water.

Patrick
0 votes Thank Flag Link Tue Mar 24, 2009
Mr.P, Other/Just Looking in Arizona
MVP'08
Joe,

Find a place to move to and then after you have a commitment don't pay any more rent. Arrange the lease on the new rental so that you are in the home you are living in a strategy that you are continuing rent using the deposit money because it the land lord/owner was given that money, you'll probably never see it.

You need to do what is necessary to protect your self and your family.

Best of luck,

Stew
0 votes Thank Flag Link Tue Mar 24, 2009
Joe,

We have all been thrown under the bus, the trick is to get out from under.

You need to review your lease, and speak with your property manager. Find out where you stand, and at what stage of foreclosure ( if it is a foreclosure ) your rental is in.
Is the home in a Short sale? What did you sign? Who represented you in the rental?
When will you have to move?
What will happen to your security deposit?
What will the property manager do to help you?

I would really like to help you, however I am not an Attorney, and I can`t play one on Trulia. Let`s keep me from being thrown under the bus.

You state that you are currently not working, so affording legal advice may be a challenge.

The good news is, The property manager can answer MOST of your questions. You will need to be Calm and persistent with the property manager.
You need to have a working relationship with the property manager.
Stay calm you have a few months to make plans.

If you got Scrw`d...you got Scrw`d. Move forward, and do what is best for your family.

Good Luck
Patrick
0 votes Thank Flag Link Tue Mar 24, 2009
Mr.P, Other/Just Looking in Arizona
MVP'08
Joe,
Find out who owns the house (the lender). Nobody wants a house vacant and if you let them know that you are currently occupying the home and are able to pay rent, the lender MAY offer you a rental agreement based on income. It's no guarantee that, but I KNOW that they are willing to work out deals right now to keep from homes going empty. The house has to have someone representing it, be it an attorney, realtor, auction company, etc. Find out who has it and get the lender information and call them to try to work something out.
Good luck!
0 votes Thank Flag Link Tue Mar 24, 2009
Hi Joe,

Sorry to hear about your unfortunate situation. However, next time, make certain that you get proper and independent representation when you rent. You are not obligated to use the propery owner's representative. You are allowed to hire your own real estate agent, who could have alerted you to this potential danger and/or protected your deposit money. So, hire your own independent real estate representative next time.

That being said, there is an organization that may be able to give you the information you need to make good decisions. It's called the Arizona Tenants Advocates. http://www.arizonatenants.com . 480-557-8905

Hope this helps.

-----
PAUL WELDEN
HomeSmart
480-241-0081
Buyer's Agent Realtor
0 votes Thank Flag Link Tue Mar 24, 2009
I guess I would check with an attorney(maybe low cost no cost) and have them check out the options you may have in getting out of the lease. If the property is in foreclosure you should start looking for another place. But, I think you have a valid concern abount any security deposit you may have given and a high likely hood of not receiving those funds back. Again it is best to get in contact with a low cost attorney and confirm when the property is scheduled for foreclosure sale.
0 votes Thank Flag Link Tue Mar 24, 2009
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