My husband and I are unsure about what to do. We love living in the home we are renting. Our landlord has been receiving mail from the bank, post cards from attorney's and agents --how they can help save their home, etc. We've come across a couple of people taking pictures of the home as well.
My husband spoke with the landlord last month asking about the home..what was going on, etc. According to the landlord, he said he has an attorney to help re-fi the house, etc. We asked if we had anything we should know or worry about. The landlord assured us that he does not plan on losing this home and that we should be ok.
I'm feeling a bit uneasy..and extremely stressed out. Our lease is up next month. I'm not sure if we should continue to stay and wait or just move. My husband came across one of the post cards from an attorney's(how we can save your help) addressed to the landord-he noticed on the post card it read: " Your home is listed to be sold" on 5/12/2012 by public auction. *Sale date could be actual or projected".
What are our renter's rights? Can anyone give me some advice on what/how to handle this situation?
You asked this SAME question on Feb 10th. Read those answers again.
I suspect you're a troll, but if this is true, come May 12th, you better have your stuff packed.
You should have some garage/yard sales and pack your items (clothes you do not wear, most dishes and other items). It you have a 2 car garage, use half the garage to store the boxes and park one car in the driveway. Sounds like you want to stay as long as possible. Look up other auction homes and see if they sold on the date.
I am not sure about the advice on paying the escrow company directly for your next rental. Some owner actually own their home (no mortgage) and that is non of the renter's business. Some of these owners do not like renters to know since the renter may feel the owner does not 'need' the money and have excuses as to why they can't pay. If a different homeowner has a mortgage I can not imagine them trusting a renter to pay it directly. First, a renter can destroy the owner's credit w/ the mortgage company if they are late, second it is not the renter's business to know the mortgage payment. If the owner bought the house 20 years ago and payments are 1/3 the far market value for rent, does this mean the owner is not entitled to a profit? I believe you can do a 'lease to own' and pay directly if that is your goal.
Can you afford to buy this house?
You may love your home but you need to be proactive with your family. I would be looking for a new place to live. Just because the landlord says he isn't going to lose his house does not mean he won't. Wny wait to find out the hard way?
Look for another house in the area. When and if you do find one ask about the soundess of the landlord. Is there a way you can pay your rent through an escrow company that will make the monthly mortgage payment? This way the landlord does not get to "touch" the money and the mortage is paid. Try a management company that is associated with a real estate company (Remax/ERA,Coldwell Banker). Time to protect your assets not the landlords.
The other S.
PS You will then relieve the stress you are under worrying about something that you have no control over to something you do have control over.
Since your lease is up next month did your landlord talk to you about signing another lease? If not I would suggest packing and finding another home right away. The bank can and will lock the doors or change the locks when they take possession of the home. They will probably give you a little time to vacate, but since you seem to know what’s going on I wouldn’t wait around to be tossed out on the street.
It is sad that your landlord hasn't spoken to you about this and is still collecting your rent. I am a landlord and would never do something like this to anyone. They should be keeping you informed on what's going on and if (or when) the house is going up for public auction.
This happen to a friend of mine... the bank 1st offer her $10,000 to move out in 10 days... because she could't with 3 kids pack find a place they gave her $8,000 for 30 days.
they were only going to give her $6,000 but she got them up to 8,000
