HELP! My Rental is being Foreclosed!

[Defying]

ok... So... I have no idea what to do...

The place is being taken over by the bank of December 16th.. I still live here...

I think we get the rest of our lease... until February.. however, we don't want to leave...

I heard that the bank will pay for us to move, and give us some kind of money on top. Is this true?

Anyone know what else I can do?

 

[WorldNumberOne]

Who is the bank?

If its a smaller one, you might be able to work out a deal to keep paying them directly if they foreclose.

If its a huge one, it's unlikely you'll be able to get in touch with the right person.

In any case, I'd start putting my rent in Escrow going forward - with the clause that if you are able to live in the apartment for the full month they rent will be paid to whoever owns the property (bank or owner). You do not want to pay rent and then get booted.

exactly what i would do...

 

[TomGshotput]

So you have at least two weeks of free rent, possibly more. Cool

 

[ProPokerPlayer]

ok... So... I have no idea what to do...

The place is being taken over by the bank of December 16th.. I still live here...

I think we get the rest of our lease... until February.. however, we don't want to leave...

I heard that the bank will pay for us to move, and give us some kind of money on top. Is this true?

Anyone know what else I can do?

You better ck the laws in ur state...In Louisiana u could get a 5 day notice to vacate on the 17th....

 

[Defying]

if the foreclosure paperwork was just filed, there is no way the bank is taking over the property dec 16.

(atty)

We apprently were not notified when it happened...

The bank def siezes control of this property on the the 16th..

But because the law Obama signed in May, they can't kick us out until February right??

 

[Defying]

I dont understand how you got a letter stating the foreclosure process had "just" started but the bank is taking possession in a week. Something doesn't add up.

Obviously, it didn't say it just started. I thought thats what it said. We were probably the last to be notified. It was probably stating the the acutal process of taking over the deed has started...:smoking::smoking:

 

[quantumleap]

ok... So... I have no idea what to do...

The place is being taken over by the bank of December 16th.. I still live here...

I think we get the rest of our lease... until February.. however, we don't want to leave...

I heard that the bank will pay for us to move, and give us some kind of money on top. Is this true?

Anyone know what else I can do?

So why don't you hire an attorney? Attorney's visits cost approximately $150/hour. It can't be for much more than an hour to get his advice, possibly less.

He could tell you who to pay your rent to and how long you can stay there. You may pay the wrong person hundreds of dollars and never get it back if you don't get good legal advice. An attorney is a good investment. Hell, it's worth the piece of mind.

This is the last time I'm going to suggest you hire an attorney. Feel free to not take my advice but you deserve what you get come December 16th if you don't.

 

[Defying]

So why don't you hire an attorney? Attorney's visits cost approximately $150/hour. It can't be for much more than an hour to get his advice, possibly less.

He could tell you who to pay your rent to and how long you can stay there. You may pay the wrong person hundreds of dollars and never get it back if you don't get good legal advice. An attorney is a good investment. Hell, it's worth the piece of mind.

This is the last time I'm going to suggest you hire an attorney. Feel free to not take my advice but you deserve what you get come December 16th if you don't.

I agree Ql

 

[tatehill2000]

some may argue this point, but you need to stop paying your rent!! DEC 1st, dont pay a fkng DIME!!

keep the money on the side, if they evict you, you saved 1200 in rent (whatever your fee is) if they contact you, you can then set up payment schedules.

I live in AZ, I know DOZENS!!! of people that were screwed this way,

Your not stealing, your just ENSURING that if someone does something UNDERHANDED, youll have an extra 2-3 grand on the side to take care of you and your family,

tater

your welcome

 

[Defying]

Thank You for all your advice. The bank is Buying us out of our lease. Getting $2k to pay for moving cost and split with my roomie.

We are moving back in with my gf's parnets for 5 months =(

She will be gettin here Bachelor's RN at that time, then we can move back into a nice place of our own.

I get a wierd feeling we will end up back in the same condos. But thank You all

 

[nhoj]

You maybe able to get a good deal one of them if the bank owns them all by the time you move back. Save your money and buy a nice house most market houses are cheap and deals are to be had. Renting is a dead end street.

 

[quantumleap]

Thank You for all your advice. The bank is Buying us out of our lease. Getting $2k to pay for moving cost and split with my roomie.

We are moving back in with my gf's parnets for 5 months =(

She will be gettin here Bachelor's RN at that time, then we can move back into a nice place of our own.

I get a wierd feeling we will end up back in the same condos. But thank You all

Glad to hear things worked out for you.