[reasonnotrules]

I suspect the condo that I've been renting for a year is foreclosed... I went to the Clark County Assessor site and looked it up, and here is the information that I got:

Instrument: XXXXXXX Book/Instr: Document Type: Assignment Recorded: 01/07/2009 16:11:43 Pgs: 2 ReRecorded: N Remarks: ASSIGNMENT OF DEED OF TRUST Requestor: US RECORDINGS INC 1st Party:
GMAC MORTGAGE LLC
HOLMES, MARION H 2nd Party:
MIDFIRST BANK Legal Description: ParcelNum: XXXXXXXX References: Tot Value: $ Property Value: $0.00 RPTT: $ Exmpt Code: Percent: % ATag:



So the last recorded action was in January of this year. Prior to that, the last record was back in 2005 when the condo was first purchased by my landlord. The record in 2005 lists the 1st party as my landlord. However, the latest record in January lists the 1st party as a mortgage company...

Does this mean the place I'm living at has been foreclosed since January? I am not familiar with the legal terms, so if someone can decipher the above for me, I'd greatly appreciate it.

If that is the case, how much time will I have before I am evicted?

Thanks in advance to anyone who can help.

[RedRockAAAA]

Just curious, what prompted you to look this up in the first place? I wonder how many renters are in this position.

Have you considered contacting the current first party and offering to buy the condo before it goes on the market?. They might not cooperate, but it might be worth a shot. If you like the unit, you may have found a good deal.

[reasonnotrules]

I have a friend who knows my landlord, and something he said suggested that the condo may be in foreclosure.

I have no interest in buying the condo. I would just like to know if it is foreclosed, and whether I should be expecting an eviction. I am still paying rent every month...

[JohnG72]

Many of the high end luxury condo's near/on the strip are being foreclosed on. This includes units currently occupied by renters. Apparently one particularly shady lady at Meridian has several units like this.

[airics]

i believe if your condo is in foreclosure, they still have to put the certified letters and notices on your address.

[Fastrudy]

Yes, I think that if the building was in foreclosure, then they would do a "nail and mail" notice to all tenants of the building. I could be wrong, but that is the way of notification in most states.

[reasonnotrules]

Oh I don't think the whole building is in foreclosure... but just my unit. Would there be notices for that in my mailbox or at my door?

[olecapt]

Originally Posted by reasonnotrules

Oh I don't think the whole building is in foreclosure... but just my unit. Would there be notices for that in my mailbox or at my door?

that does not appear to be a significant notice. However don't take my word for it. Go get the document from the recorders office. See what it says.

Off hand that is a very early document in the train that leads to a foreclosure. However you do care so go get it and see what it says. If in doublt begin a dialogue with your LL. Demand a current statement of his mortgage.

If he is in arrears negotiate a new rental schedule. Make sure you get back your security deposit and some more before it gets foreclosed. If he won't pay stop paying. If he tries to evict you take him to court. Claim you know he is reneging on your lease terms.

If a little rain is falling into your life try and take advantage of it. You may end up living for a few months at a vastly reduced rent or none at all.

Enjoy - Knowledge is power.

[reasonnotrules]

thanks for the responses for far. i might take the parcel # to the recorders office and check it out.

can anyone shed some insight on what "Document Type: Assignment ; Remarks: ASSIGNMENT OF DEED OF TRUST " means?? and the fact that my landlord is no longer listed as one of the parties?

[olecapt]

I would think it means they moved the trust deed to another organization. This sometimes occurs prior to a foreclosure. It can also happen rountinely.

In general a notice of trustee sale would occur about 100 days prior to the actual trustee sale. At that point you can expect to be asked to leave in 30 days or more. If it happens ask for key money. Can't hurt.