I am a renter (of a home) in Texas. I paid rent on the 1st of the month (Nov. for example) to a property management office. The month prior (Oct),

Asked by Texast, 75002 Sat Jan 2, 2010

gentleman representing the Vet Admin came by to appraise the home. He reported the home was being foreclosed. Still, I paid the rent as per my lease agreement. The following month( Dec.), I was visited by two people claiming they purchased the property on the court house steps earlier that day. I have spoken to the (old) management company and demanded all monies paid from time home was no longer proerty of owner (the mgmt company) represented. All I received was my security deposit. Am I due the other monies?

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Guy Gimenez, Agent, Austin, TX
Sat Jan 2, 2010
1. Did the "two people" provide you any evidence that they "own" the property?

2. The management company likely sent the rents to their client (landlord) until or unless they were notified the home was being foreclosed...which seldom happens.

3. You should speak with an attorney, but new legislation gives you at least another 90 days of occupancy in the foreclosed home unless you're in breach of the contact (ie. you don't pay the rent). The alleged new owners will know this. If they want you out prior to the 90 days, they will have to pay you for that privilege.

4. If they don't own it, the lender will often not bother you for several months. When the lender does contact you, they will usually offer you cash ($1,000 to $1,500) to vacate the property and leave it broom clean.

Guy E. Gimenez ABR, CRS, GRI
Broker / Owner
The PowerHouse Group
Web Reference:  http://www.phgbrokers.com
2 votes
T.E. & Naima…, Agent, Dallas, TX
Sat Jan 2, 2010
I think you have been lucky to get your security deposit back. Many people in your shoes have not been able to get even that back.

May be you can work out a deal with the new owners where they can give you a few weeks to move out and that would cover the monies paid that you won't get back.

If you want to pursue that further, you may want to hire an attorney.

Web Reference:  http://www.SumnerRealty.com
1 vote
Nick Hultgren, , Collin County, TX
Thu Jan 7, 2010
The new owner will have to offer you cash for keys as stated below to get possession of the property. Or evict you which will (as stated below) take them 90 plus days. $1,000- ? $ Amount cash for keys depends on the amount of rent you are paying. I can help you find a new home and consult you on this process for no cost, The only condition would be you let me help you find a new lease home. The landlord of new house will pay my fees and I will represent you. Give me a call. I look forward to working with you.

Nick Hultgren

Nick Hultgren – President / Broker
Hultgren Real Estate
27 Years Experience
Web Reference:  http://www.NickHultgren.com
0 votes
Bruce Lynn, Agent, Coppell, TX
Sat Jan 2, 2010
First off....sorry this has happened to you. You are not alone.
Tough to tell your exact situation....there are many different variables.
Of course our first line of defense is to contact your family attorney, but you may just be throwing out good money after bad as there probably isn't a whole lot of money involved to pay an attorney out of your pocket to go fight someone who didn't have the money to pay the mortgage.
If someone bought it on the courthouse steps, that would be the first day they owned the property. Before that day your deadbeat landlord likely still owned it. So based on your argument you would not be due any funds back other than your security deposit. Feel very lucky you got it back.
You should call 888-255-1791 OCWEN to check and see how long you can stay in the house and what the status of the home is. You may have also received information in the mail from them.
You may be able to stay in the home through the end of your lease or continue to rent for a period of time as long as you continue to pay rent. SAVE YOUR RENT....put it in savings if you are not sure who to pay it to now. The new owners may also want to rent to you if you would like to stay there.
If you want to stay there you need to be proactive though. You don't want the new owner to say or claim that you failed to pay rent and are therefore in breach of your lease agreement. You need to figure this out quickly unless you want to move.
Good luck....
0 votes
., , Lewisville, TX
Sat Jan 2, 2010

Guy hit it right on, I would agree but I would also add to check with an attorney for your legal repurcussions, and echo the 90 day grace period for tenants living in foreclosed homes. If you need help finding another lease home in Allen, let me know.

Nicole Arenas, Realtor
0 votes
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