RentalForeclosure.com

We are launching a new resource on RentalForeclosure.com. This service will give landlords and rental managers to opportunity to advertise their rental listings on RentalForeclosure.com. Each rental listing that goes into the system is checked to make sure it is not in default that way renters who are searching for rentals can be confident that if they find a rental they like on our site that they can move in without the worry of an immediate foreclosure.

This was a natural progression for us, we have many users who go to our site with the local newspaper in hand and check address after address to make sure they are not going to rent a home that is already in foreclosure. We’ve eliminated a step for them by checking all the rentals on our site before hand.

The new portion of the site is also a very powerful tool for real estate agents and property managers. An entire portfolio of rental properties can be managed on the site. It is also casts a very positive image on an agent or property management company if they have their listings certified by RentalForeclosure.com.

There is a cost for the service. It is $8 per listing for certification and once certified the listing will stay on the site until it is rented or it goes into default status.

View the for rent section here.

Thank you to Tony Lopez from CBS 13 in Sacramento for his story mentioning RentalForeclosure.com and how renters can use the site to check and see if their landlord is in foreclosure. Foreclosures are a huge problem in California and renters are really feeling the effects.
The video of the news story can be seen on the CBS website by clicking here.

Special thanks to Lori Prichard from KSL channel 5 in Salt Lake City, Utah for mentioning RentalForeclosure.com in her report about renters facing landlord foreclosure in Salt Lake. The story, which can be read here, discuses Utah’s foreclosure rate and how it is affecting renters in that state.

It great that media outlets are reporting on this problem. We feel that every time a major media source reports on a story like this thousands of people are made aware and hundreds are help!

You can check online at RentalForeclosure.com to find out if your rental home is in foreclosure.

RentalForeclosure has partnered with Century 21 At The Rockies to provide local assistance to renters facing landlord foreclosure in northern Clark County Nevada.

Renters in Mesquite and Bunkerville Nevada that need assistance after finding out that their rental is in foreclosure will be able to get help on a local level. Century 21 At The Rockies will have agents available to assist renters with general advice and relocation services. The agents available in this program will have specific training related to foreclosures and how they affect tenants. “Our local partners are a very important part of our service to renters,” said Dave Madam, co-founder of RentalForeclosure.com.

Clark County Nevada has been one of the hardest hit areas in the country in terms of foreclosures. September foreclosure numbers were up and that trend does not seem to be easing up any time in the near future. It’s very important for renters to be diligent in these times. An unexpected eviction can be devastating both financially and emotionally.

“We’re just not going to evict innocent tenants. It stops today.” Cook County Sheriff Thomas J. Dart announced Wednesday.

If nothing else, this move will go a long way towards shedding light on this situation. There is no perfect answer here. Tenants should not be evicted without proper notice AND banks should not be overly burdened when trying to claim property that they are entitled to.

Regardless of how this plays out, we still beleive it is best for renters to find out now. Renters that use our site will know if their landlord is having trouble and will be able to prepare for whatever is to come.

RentalForeclosure.com gives renters the chance to check their rental address against our database of foreclosure for free to find out if their landlord is in foreclosure. The site also lets renters sign up to be notified if their landlord goes into foreclosure in the future. All the services on the site are free for renters.

Home owners trying to walk away from upside down mortgages are enlisting the help of unsuspecting renters. In an effort to get out from under their mortgage home owners are buying new, more reasonably priced homes. In order to qualify to purchase a loan to purchase the new home they have to show how they are going to pay for their current mortgage. To do this they find a renter. Usually the owner will give the tenant a very attractive rent. The home owner, now landlord can now qualify for the new loan because the renter is now paying for some or all of the first mortgage.

Here’s the catch; shortly after closing on the new house many of these new landlords stop paying on the first mortgage. Soon after the tenant gets the boot from the bank.

Now more than ever tenants need to watch the signs. Remember if it sounds to good to be true it probably is! Many times, just to get a rental agreement in place, these new landlords are offering these homes for discounted rental rates. Be diligent, check up on your landlord, keep track of the status and don’t get blindsided by unscrupulous landlords trying to take advantage of you!

Find out now if your rental is in foreclosure at RentalForeclosure.com

Foreclosure levels show signs of continuing to increase in Cook County.

Chicago, IL, October 7, 2008:  The number of default filings in Cook County was up slightly in September. RentalForeclosure.com, a web site that provides information to renters about landlord foreclosures, tracked 4,260 defaults in September. That number was up from 4,249 defaults filled in August and just lower than the 4,296 filed in July.

“It seems more like a leveling off than an increase” said Shawn Shepherd, co-founder of RentalForeclosure.com. “ Unfortunately, we feel like there will be a real increase in filings in October as mortgage companies and loan servicers try to determine what the best way to get assistance from the new government rescue package will be,” Shepherd added.

The number of filings in July represented highest monthly total in 2008. July’s totals showed a 55% increase over the number of filings in May, the largest two month increase in recent years.

** press release and charts are available at: http://www.rentalforeclosure.com/press-releases/RF-Chicago-press-release-sept-08.pdf

Find out if your rental is in foreclosure.

For renters in the Chicago area the Metropolitan Tenants Organization has a wealth of information about tenancy and eviction laws. The organization has a hot-line (773-292-4988) that tenants can call with questions monday through Friday 1pm to 5pm. Their website state their mission is to educate, organize and empower tenants to have a voice in the decisions that affect the affordability and availability of decent and safe housing.

They don’t appear to charge for their services to renters but they do accept donations and volunteers. According to the state (Illinois Secretary of State) they have been registered since 1985 as a Not-For-Profit corporation and are currently in good standing.

Renters in the Chicago area can now check online to see if their landlord is facing foreclosure and receive assistance from local professionals.

Chicago, IL, September 10, 2008:  Every single day in the Chicago area more homes go into foreclosure. If you happen to be renting one of those homes, chances are you would be the last to know, until now. RentalForeclosure.com, a free service, is now available in the Chicago area for renters to quickly and easily check to see if their landlord is in foreclosure.

To provide local assistance to distress renters, RentalForeclosure has partnered with Baird & Warner Real Estate in Chicago. “We talked with several companies in the Chicago area and found that the best match for our users was Baird & Warner” said Shawn Shepherd, co-founder of RentalForeclosure. “Baird & Warner really understands what we are trying to do and genuinely wants to help people in their community” Shepherd added.

To find out about their property, for free, renters simply go to www.rentalforeclosure.com, select the county and city then enter the rental’s street address. If there is a default or pending foreclosure sale the website will let the user know immediately. If there are no defaults the renter has the option to be notified by the website if their landlord does go into default via RentalForeclosure’s free E-Notify system.

After finding out about a landlord’s pending foreclosure renters usually want to know what their options are and that’s where Baird & Warner’s real estate professionals come into the picture. They are available to provide assistance and guidance to RentalForeclosure.com users on a local level. Each of Baird & Warner’s agents that participate in the RentalForeclosure Assistance Program receives specific training from their company on how to assist renters in this situation.

September 1st is the oneyear anniversary of RentalForeclosure.com. We couldn’t be happier! Our little site has grown amazingly over the last year. We have gone from a local site assisting renters in Nevada to a national service providing guidance to tenants all across the country. It has been a great experience and we have loved every minute of it. It’s a great feeling to be able to help people and our users have always been very appreciative. We would like to thank all of our partners and sponsors across the country who help us and our users.

It’s been a great year and think the next one will be even better!