Foreclosures Help Information

Posts Tagged ‘Homes Rent’

Foreclosed Homes For Rent In Nc

Question: real estate advice, renting a pre foreclosed upon home?

I need help... We are in the state of Florida and have been served with pre foreclosure papers as John and Jane Doe, tenants. Our landlord has given us a song and dance and has told us that he will hold us to the end of our lease, being July 1, and he feels there "should" be enough time. I have a high school Jr. and Sr. I would like to move out. What are my rights? We have been relocated due to a military move and really need to stay in the area. We have spoken with the bank as well as the attorney for the bank and were told that the landlord did not reply within the twenty days. They were up last month. The bank said they are simply waiting on a court date. I honestly can not live like this and find it hard to believe that the landlord has so many rights. I have always paid my rent, I just want out of this situation. I own a home in NC with tenants and could not imagine placing them in this situation.

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Answer: Yes, the landlord can hold you to the original rental agreement as long as he is the owner of the house. I know it's tough, but you should stay as long as you can. Make sure you give the correct notice to the landlord that you will be moving out the first day the lease expires. Then about two months prior, start looking for a new place. You should be able to sign an agreement one month early for a move-in date of July 1. So really, you just have to wait until 1 April to start looking and planning your next move. If necessary, try to find an apartment in the area so your kids can stay at their school. Hang in there! The banks take lots of time to go through all their paperwork, so you should be okay.

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Rent Own Foreclosed Homes

Question: Is it possible to get a mortgage if you are in foreclosure?

I am 3 months behind in payments and my house will be sold at auction soon. Is it possible to refinance and pay for my old house plus get another? I have been trying to sell my old house but no dice. I would ideally liek to pay off this debt and find a new home. If worst comes to worst and my house does not sell and I get foreclosed, will i be able to get another house and mortgage? Is it possible to rent to own a home without a mortgage?

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Answer: you have already proved you cannot pay a mortgage. no one is going to give you another one

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Rent To Own Foreclosed Homes

Question: what is the legallity of your home being foreclosed if you have been paying?

my aunt has been renting her home for about 2 years now(rent to own) she has been paying the homeowner $1000.00/mo he has not paid the mortgage co and she has 90 days to move.she says there is nothing she can do what do you think?what would you do?

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Answer: If she is in a lease option contract with the owner who has now foreclosed, the contract would specify how much of the $1000 per month was going towards rent and how much was going towards the down payment (or whatever the agreement was for the split).
The seller of this home SHOULD have been keeping the portion that was not rent in an escrow account and that will legally belong to your aunt, depending on the terms of the lease option.
Your aunt is going to need some legal assistance in this unless the seller of the house is going to be completely honest and do the right thing.
I kind of doubt it based on the fact that they let the house go to foreclosure when someone (your aunt) was obviously paying towards the mortgage.

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