William Tero, Home Buyer in Winter Springs, FL

i live at 1384 blue spruce ct and rent from the owner is this house in foreclosure

Asked by William Tero, Winter Springs, FL Mon May 4, 2009

This question is about this property: http://www.trulia.com/foreclosure/2003990147--Blue-Spruce-Ct…

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Good morning William.

I did a thorough check regarding the property you are currently renting. I'm sorry to be the bearer of bad news but it sounds like you had a pretty good idea already that the property was "in foreclosure". I have confirmed with Seminole County that a Lis Pendens was filed in February. Here's the info which is public record:

Type: LP
File Number 2009015772
Date/Time: 2/12/09
Book Type: O
Book/Page: 7133/1571

If you need assistance with purchasing a home or finding another rental home, please feel free to contact me anytime. For what it's worth, it could be several months before you need to really worry about moving. It can take quite a while for the foreclosure process in many cases.

I've seen leases recently where the owner states in writing that they are current on the mortgage. If you lease through a professional management company, please ask how they address this issue. There are too many tenants out there today who are getting caught up in the foreclosures and short sales.

Best of luck to you William.

Marty Hunt
Realty Executives Seminole
Florida Home Team
(407) 869-7779
0 votes Thank Flag Link Mon May 4, 2009
Mr. Tero -

I regret to inform you that there was a Notice of Lis Pendens filed with the Seminole County Clerk of Court on 2/12/09. The mortgage holder has filed suit to foreclose on the property.

If you have questions regarding your rights, you should contact an attorney. I would make immediate contact with the management company (if you leased through a professional) or the seller to discuss the situation.

Please feel free to contact me if you would like assistance.

Debbie Summers
0 votes Thank Flag Link Mon May 4, 2009
Good morning William.

I did a quick check of the public notices and saw no data to indicate that this home is in foreclosure. I can usually see when a lis pendens is filed and there doesn't appear to be one of this property.

If you are concerned about the financial status of the property I suggest you ask the owner if he's current on payments or if there are any financial issues that might affect the property or your lease. If you are renewing the lease you can certainly put in writing that the owner will remain current on the payments or notify the tenant if that is not the case. Depending on your relationship with the landlord, they might offer to send you verification that the mortgage is current or they certainly could choose to tell you nothing.

Hope this helps.

By the way, not sure why you're renting but with the low interest rates, tons of selection, FHA loans with 3.5% down and low prices (and possibly the $8,000 tax credit if you're a first time buyer) this is the perfect time to own a home! You can see all homes for sale at http://www.MyFloridaHomesMLS.com/marty and you can search foreclosures and distress properties at http://www.OrlandoBankOwnedProperty.com (just click on the big "Foreclosure" button).

Have a great week!

Marty Hunt
Realty Executives Seminole
Florida Home Team
(407) 869-7779
0 votes Thank Flag Link Mon May 4, 2009
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