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| Posted by: Stacy from Tennessee on November 1, 2009, 7:30 pm |
Comment:
From Tenant: I have a question- my husband and I signed a rent-to-own agreement contract in Oct.2006 with our landlords.The rent is 700.00 per month and we agreed to pay an additional 100.00 per month toward down payment of purchase of the home.The landlords agreed to hold the extra money in an escrow account until we were ready to buy the home.I paid the rent on Aug.3rd and then about 2 wks. later,the landlords told us over the phone that they were filing bankruptcy and were surrendering the home.I asked them about the escrow money we had paid them over 3 yrs. time and they asked me "what money?"....I was outraged as you may imagine.The bank informed us to pay them the rent from now on,which we have paid them Sept.- Oct. so far.I found out that a deed in lieu of foreclosure wasn't going to work out,so now the bank is telling us our landlords will be notified in a number of days and notice of the foreclosure will be printed in the paper.To beat all,during the midst of all this,the ceiling in the garage collapsed on our Jeep Wrangler and dented the hood and NOBODY even cares or will fix it.The bank claims they're our landlords but refuse to fix anything including the bathroom floor that is damaged from a plumbing leak.......not only are we being done so wrong,the only reason we put our trust in our landlord is because she is a LOAN OFFICER at the bank,who now are about to foreclose the property.We have paid a total of 3,550.00 which includes a 450.00 security deposit we paid before moving in.We hired a bankruptcy attorney as far as our escrow account is concerned,which I doubt ever even existed.Do we have any rights? should the bank have taken rent from us or do we still have to pay rent(minus the extra 100.000) to the landlord? our lawyer told us NOT to pay any more money and to try to recoup the money we've already lost..I'm worried about not being able to find another home to rent and how long we can live in the home before the bank kicks us out,because the bank sent an appraiser over today...any advice would be helpful,thanks. |
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Replies to this comment:
Posted By Denise from Georgia on November 17, 2009, 12:45 pm
President Obama signed a bill into law effective immediately in May of 2009, that states if a house goes into foreclosure and gets sold in the foreclosure sale, the current tenants have the right to stay through the term of their lease if they have a bona fide lease and the house goes back to the bank or an investor. If you do not have a bona fide lease and are renting month to month, at the very minimum you have 90 days to move before they can evict you. Per the law, the bank or an investor can not evict you for the purpose of selling the property. The website to go to is: New law protect renters or new local renter laws, federal law to protect renters. The bank is supposed to honor your lease, considering the fact that the house went back to them instead of someone who intended to occupy the property. If someone had purchased the property and intended to move in, you would still have 90 days to vacate and they are not suppose to set your belongings on the front lawn. I recently went up against the investor who purchased the home I was renting. He harrassed me, tried to intimidate me and even left nasty threatening messages on my cell phone. He told me the new law did not pertain to him and he would have me out of his house within 0 - 7 days. He served me with a notice to vacate. I called him and told him I would see him in court. Yea, I was somewhat scared because the law is so new that the justice system, attorneys and yes, even legal aide are not aware of the law. I got an attorney and he didn't know about it and he claimed to specialize in landlord/tenant related issues. I had to school him, the investor and the judge. I used the toolkit, which provides a sample letter, and instructions on how to fight eviction. I then printed the sample letter (I changed the from
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