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| Posted by: Eric from Nevada on September 25, 2009, 12:17 am |
Comment:
Unfortunately, I too will add to the numerous landlord scams. I recently moved in with my wife at her parent's home. They rent the place and have been there for almost 3 years. Over the years, they developed a close relationship with the landlords. When I first moved in, I suspected something odd because most of the surrounding homes have been foreclosed. I asked my in-laws if they know the landlord is making the payments on time. I was quickly hushed and told, "of course". They are great people. Right! Today, I come home to find an auction notice at the front of my door. The house has been foreclosed since June 23rd and will be auctioned off in 3 weeks. That would mean the landlord has not made a single mortgage payment all year. Estimating the 6 months it takes to foreclose and 3 months to be auctioned. That is well over 10K the landlord has profit from us. I suppose we are the ones making the payments to his new BMW. I need help. I am aware of the act Obama signed granting 3 months on foreclosures. Have my 3 months been used? How do I negotiate 'Cash for Keys'? How much time do I have at this residence and can I legally go after the landlord for defrauding this household for 10K+? I am on a month to month verbal contract. (He refused to renew the contract once it expired last year). |
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Replies to this comment:
Posted By Jennifer from Nevada on March 4, 2010, 9:07 pm
My family is also a victim. The only difference with us is that we did get the foreclosure notice and date of auction on Feb. 26, 2010. With research after the fact, I found the foreclosure started in May, 2009, but he entered into a 2 year lease with us in October, 2009, knowing he was in the foreclosure process. He also had filed for Chapter 13 in February, 2009, but is was dismissed due to having too many assets. Our landlord's atty filed chapter 11 on the day we got the foreclosure notice, Feb 26, 2010. We are meeting with our atty on Monday to see where we stand. I have found all these postings very valuable in at least understanding the process. But the end result I am sure is I have to pack up again and find another place to live! This country is really in trouble!
Posted By Eric from Nevada on September 25, 2009, 8:52 pm
Thank you Rosemary for your information. Your story has been motivation for what I am going through right now. The house will be auctioned on Oct 16. We confronted the landlord and he insists everything is okay. The house is under modification. Blah, blah..
Posted By Rosemary from Nevada on September 25, 2009, 11:50 am
Hi Eric,
I can tell you with what just happened to us here in Vegas. The 90 day clock won't start until the house is auctioned off and someone buys it. Soon after that expect someone representing the new owner or bank to either visit you or post a notice on your door to contact them. Work with them to negotiate Cash for Keys. The only thing that might get sticky is the fact that you have a verbal contract right now for the lease. When we negotiated Cash for Keys we had to provide proof that we were "bona fide" tenants of the property, providing a copy of the lease, recent utility bills and rent receipts. I'm sure that if you provide proof that you've been paying rent it should be sufficient to give you the 90 days. We opted to get out in 30 days, only because they offered us $2500 to vacate sooner and we just wanted peace of mind. Now the search is on for us to find a new place. We're definitely doing our homework though to avoid walking into another foreclosure nightmare. Good luck to you!
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