Wednesday, July 15, 2009

Is Your Landlord About To Foreclose?

Today, many tenants and renters are finding out that the owners of their rental are not making the mortgage payments and are left with very short notice to find a new place to live. This is a situation that can cause major aggravation when a a person or family has built their life around the terms of their lease.

Many do not know this but we can check to see if the owner of the home you rent is going into foreclosure and whether or not they have been making the payments.

If we find that this is the case, we can help negotiate an acceptable solution for you and/or help you find a place to live before it is too late. This is a free service we will provide to our Southern California clients who are not quite ready to buy their own home, but when they are ready, we look forward to helping them find the perfect home.

Hope you find this informational service helpful. If you have any other questions about Anaheim homes, please contact us for information and if you are in the Orange County area and are curious wheather or not your landlord might forclose please fill out our landlord screening request.


Shmandrew said...

It is also important to know your rights as a tenant of a landlord facing foreclosure. I recently wrote a post on that subject at

FOUST Team Real Estate Services said...

Thanks for feedback, your post is a good read.

One thing I might add is that, at least here and in my understanding, if the tenant has a lease agreement the bank (or a new buyer) will have to honor the terms of that lease for the entire duration even if it extends past a bank sale. Of course, a buy out like you speak of will often remedy this.

Obviously, a lease is something that won't show on title but should be disclosed by the seller and investigated by the buyers.

I guess for tenants, one more reason to have a lease not a month-to-month....could be cash in their pocket!

Thanks for your comments.