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We signed a 1 yr lease September 15, 2009. Just got a notice with blue tape on the door stating the house will go into foreclosure in 60 days. It states he has not been paying his mortgage since August 2009. What!!!??? So you knowingly stopped making payments and rented to us anyways????
So, I heard about cash for keys. Do I contact the lender about this, or do they offer this to us when it goes into foreclosure?
We keep the place immaculate and have never been late with the rent.
I'm not sure how/if you can get cash for keys, but I would definitely get in contact with your landlord and find out what's going on and if can/will give you your deposit back?
Also, what exactly did the notice say? Was it a "Notice of Trustee Sale"? That is the last step before the house is actually auctioned off, but I've seen the trustee sales are often postponed, esp if they house is occupied.
We signed a 1 yr lease September 15, 2009. Just got a notice with blue tape on the door stating the house will go into foreclosure in 60 days. It states he has not been paying his mortgage since August 2009. What!!!??? So you knowingly stopped making payments and rented to us anyways????
So, I heard about cash for keys. Do I contact the lender about this, or do they offer this to us when it goes into foreclosure?
We keep the place immaculate and have never been late with the rent.
Thank you in advance for any info.
That's interesting. As I peruse the real estate auction sites there has been a new phenomenon over the past few weeks showing multiple Las Vegas listings stating:
PLEASE NOTE:
Property to be sold occupied.
Please do not disturb occupant.
No open house or inspection.
Financing not available - cash only.
Buyer assumes responsibility of occupancy.
It reads, Your home is being foreclosed. In not less than 60 days your home will be sold and you will be forced to move. If this is true we will "be forced" to move before our lease is up. End of August. Lease is up mid Sept and the deposit we should get back is $1500.
I will move, but for the damn inconvenience you better pay us. That's why I was asking about the cash for keys deal.
There is a federal regulation, which will expire at the end of 2012, that requires the sending of a 90-day notice to the tenant to vacate from the premises.
Our state law, which was passed after the June, 2009 session, requires a 60-day notice to the tenant. The federal law takes precedence.
AB 140 states that a tenant or subtenant is to be provided notice within three business days that his or her residential unit is being foreclosed by the lender. The notice is to state that the tenant may terminate his or her lease and move out or remain and possibly be evicted under Chapter 40 (after the expiration of the notice).
If the tenant fails to pay rent or fails to perform any other obligations of the lease agreement, the tenant will be subject to a eviction notice prior to the expiration of the 90-day period. During this 90-day period, the new owner has the same rights, obligations and liabilities of the previous owner under NRS 118A (the landlord tenant act) and under the lease or rental agreement that the previous owner entered into with the tenant.
The tenant can vacate from the property prior to the expiration of the notice period without any obligation to the new owner. In this case, the tenant would not be require to give the new owner 30-days notice.
did you ever think that the ll is going for for a loan mod and stopped paying on purpose..? you don't own the home so no you don't get any key money... your first thought is greed, how terrible... and as for the ll not making the payments.. until the bank actually forecloses, he still owns the house and can sue you for rent whether he makes the payments or not.
did you ever think that the ll is going for for a loan mod and stopped paying on purpose..? you don't own the home so no you don't get any key money... your first thought is greed, how terrible... and as for the ll not making the payments.. until the bank actually forecloses, he still owns the house and can sue you for rent whether he makes the payments or not.
I don't see this as greed. Sounds to me she's concerned about NOT getting her $1500 deposit back and I would be too!
The owner wasn't paying the mortgage, but they were taking the rent. That's greed!
Thank you whyhateme. I wrote in my defense but I think I offended airics so they deleted my post.
I have been on time and plan to hold my contract until the end. Greed is the owner who rented me a house without disclosing he was going to either foreclose, short sale, or modify his loan. I even asked them and they said oh don't worry they are current on their house.
Oh Airics, you can come on here and tell me I'm greedy??? hahahaha. I won't even waste my time this time. Thank you for whyhateme for being sooooo smart and understanding exactly where I am coming from. You actually took the time and read what my question was really about.
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