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| Posted by: Tammy from Nevada on July 23, 2009, 11:29 am |
Comment:
In February 2008, we found out the home we were renting had a notice of default filed on it. Not knowing really what the process was, we packed up and moved into another rental home. We explained the situation to our new landlord and let him know that we were very upset about the fact that we had been paying rent and the home was going to be forclosed upon anyway. Our new landlord said he sympathized with us and that he would never do such a thing. Well, guess what, now a notice of default is filed on the home we're renting from him. He lives in a home just a couple blocks away, and that home has a notice of trustee sale recorded on it. I am worried that if he loses the home he's in that he will kick us out of our home and live in it for the additional 3-6 months until that home is sold at auction also. His story is that he is working on having the loans on both homes modified. But my concern is what if the modification is not approved, as is happening with so many nowadays. I want to trust him, but I also want to protect my family from a sudden surprise Sheriff visit. Any suggestions? |
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Replies to this comment:
Posted By Rosemarie from Nevada on January 4, 2010, 5:32 pm
F.Y.I. A Modification can not be submited on a rental property. It is only good on a home that the owner is living in. Also the president put a notice out that the banks have to honor the duration of the lease..So if you have 6 months left on your lease they have to let you stay but you still have to pay your rent..Or they may offer you cash for keys as long as you leave the home in good condition. I hope this helps.
Posted By Christine from Nevada on November 5, 2009, 5:06 am
Your comment could have been written by me! Exactly my same story except that this is the first house we are in that is in foreclosure. My landlord keeps saying she would not let us lose this house, but her own home is in the final stages of foreclosure. We had a notice of default taped to our front door last week. I am finding out that it is best to not trust so much. I like my landlady and want to trust her, we have lived here 3 years, but in this case, I have to be smart and protect my family. She says she is going for a loan modification, but it is not done yet. I am trying to learn as much as I can about my options.
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