Foreclosure in 95404>Question Details

Renting Woes, Renter in 95404

The house I am renting is going up for auction- the landlord claims it is a mistake. How can I find out if the auction is happening?

Asked by Renting Woes, 95404 Mon Oct 31, 2011

I found out that the house is going up for auction because a notice was posted on my door. My landlord said it was a mistake, but he has been dishonest about other things and I do not trust him. My year lease expired 3 months ago and I am now month to month. How can I find out if the house is indeed going up for auction without waiting until the auction date? Ideally, I would just like to get my deposit back and move!

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If the home is indeed scheduled for auction, it is because your landlord is at least 90-120 days past due on his house payment. And. I hate to be the bearer of bad news, but , If he's not making a house payment, he most likely does not have the funds to (or simply doesn't plan to) return your deposit either. It is entirely possible that your landlord is working on a loan modification which, if effective, can stop the foreclosure process. Unfortunately a loan mod typically runs parallel to a foreclosure timeline, without much communication between the two. A home can go to auction while a loan mod is in progress. If the home is in fact going to auction, and no loan modification is in the works, you should talk to attorney or legal aid to see what your tenant rights are...and, once you are sure the home is going to auction, may want to stop making your rent payment (again, talk to an attorney, or legal aid about this). With a month to month lease, he must give you 30 days notice. If the home goes to Auction it will either be bought by a 3rd party or return to the bank if no offers come in. This is known as Foreclosure, or bank owned (REO) In the case of a foreclosure a tenant has 90 days by law to find new housing. The bank will often offer a move out incentive if you agree to leave the house in good condition and agree to leave in 30 days. This is called a "Cash for Keys" If a 3rd party buys the home at the auction, they will most likely be much less flexible that the bank, and will most likely not offer cash for keys. Most Realtors have access to foreclosure/auction information. I encourage you to connect with one and have them keep an eye on the progress of the Notice of Trustee Sale (Auction). I'd be glad to do that for you as well. Pending foreclosure is tough on a tenant because you're really out of the loop, and usually in the dark. If you need help finding an attorney or low-cost/free legal aid, I can point you in the right direction. Best of luck to you. ~ Allison
2 votes Thank Flag Link Mon Oct 31, 2011
The notice on the door is all you need to know. Auctions often get postponed multiple times, but if you got the notice, it's not a mistake. If you send me your address I would be happy to check my foreclosure sources to get more details.
1 vote Thank Flag Link Mon Oct 31, 2011
Well, I wouldn't leave until you find out for sure whether the owner is negotiating for a short sale, because if he is, you may be eligible for $3K incentive to move, which will at least provide new funds to move. Call a realtor to look up your address on the tax rolls and see if it is listed for sale, and what status is showing on the tax rolls. Best, Terry Bell, Realtor
0 votes Thank Flag Link Mon Oct 31, 2011
If there was a notice on your door, you can bet it's the real deal.

You are lucky the bank didn't just change your locks on you! They will definitely do that after the auction. I believe all hope of getting your deposit back is gone. I've never heard of a deposit being returned in a situation like this. It's called "rent skimming" when owners accept rent but don't pay the mortgage. However, he'll likely get away with it as banks are not typically going after homeowners.

Do as you see fit, but I would definitely make arrangements to move as soon as possible. Life won't get any easier after it goes back to the bank or a third party at the courthouse steps...

So sorry to hear you've been scammed by another property owner. cj
Web Reference: http://www.cjholmes.com
0 votes Thank Flag Link Mon Oct 31, 2011
Hi,
I will check it for you if you send me your address.

Ludy Ivonina,
Realtor
(909)731-7124
Ludy@tarbell.com
0 votes Thank Flag Link Mon Oct 31, 2011
Call the company who posted the notice, they will verify the auction time and date. Do not wait for your landlord to help you out - start looking for a new place.

Vangie Pappas
Pappas Realty & Management co.
241 Windward
Clearwater, Fl 33767
pappasguru@hotmail.com
727-501-3268
0 votes Thank Flag Link Mon Oct 31, 2011
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