 What was the excuses your tenants used to not pay the rent? |
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 Do I have to give out my SSN for a rental in North Carolina? |
| ok... So in January I'm supposed to be moving from utah to NC and get married and move into this house with my Marine BF. Well he is taking care of the rental, and says that the law in NC is ... |
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 Asking price vs. Offer price? |
| How can a seller justify price their home $3000 more than the comprable home on sale nearby and the comprable has more bedrooms. If a home is worth the asking price, what is the standard price to ... |
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 How do I purchase a home without a buyer's agent? |
please tell me the steps in how to do this.
Additional Details
I've had a lawyer write up a purchase agreement. I want to know how to get the listing agent to take off half of his/... |
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 Any creative ideas for selling a house? I know the market is tough, but I'm surprised it's THIS hard! |
Additional Details
This home is well maintained, in a good neighborhood and priced right - but getting no interest. Maybe someone out there knows something we don't know. Serious ... |
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| Any ideas of places that will provide rent assistance? For example, vouchers, money, checks, and such. The Housing rent assistance, where they base your rent on 30% of your income takes forever to ... |
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| Paying off my mortgage? |
| I came into some $ via an inheretence recently...and it is enough to pay off my 30 year mortgage at 8.1% completely.....I want to pay myself back this money monthly, and it would only take 15 years ... |
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 What happens to my good faith deposit if the seller doesn't respond to my offer and we opt out of buying? |
| We made an offer on a short sale house, it is in escrow and we put a good faith deposit down on it. The sellers lender hasn't responded to our offer. We are thinking of not waiting around. Do ... |
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 I was curious how a house value is based upon it's market value? (See below)? |
| My wife and I bought our first house in september of last year at that time we paid 174K the valation according to the State of Maryland was only 86K. State of Maryland values it's properties ... |
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powerlessme | How long before a house goes in forcloser? |
I AM RENTING A HOUSE FROM A FAMILY MEMBER
I JUST FOUND OUT HE HASN'T PAID HIS MORTGAGE IN A FEW MONTHS.NOW HE IS TRYING TO SALE IT "QUICKLY
BEFORE THE BANK FORCLOSES.WHERE DOES THIS LEAVE ME? AND DO I STILL PAY HIM RENT ?WHAT IS GOING ON AND WHAT R MY RIGHTS |
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NWA Ray
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Depends on the lending institution as far as the time frame goes. Big banks usually can wait 4 - 6 months before filing the papers. Once it is in foreclosure, it can take another 6 months to get through court, but that depends on the bank and the area.
If it is a mortgage broker with independent investors or if he had bad credit on the loan, they will foreclose much more quickly. Usually not sooner than 3 months. They will try to push it through court as fast as possible & sell it for anything they can get.
Sad to say that you really don't have any rights as far as keeping it from foreclosure. He does need to give you 30 day notices (which it sounds like he did). Hopefully you will get your deposit back.
If I were you, I'd go ahead and act like you only have about 3 months left & start shopping for a new place.
Sorry about your situation. I hope he can get it out of this mess! |
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Whiskey Tango Foxtrot
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He is probably already in foreclosure. You will get a summons as an Unknown Tenant. You don't have any rights to the property, your rental contract with him has nothing to do with the mortgage. I would say that you should take the money you would be paying in rent the next month and use it to move. If he comes after you in court for the rent money, you can countersue him for moving expenses if he violated the terms of your lease (check your lease). You might also consider contacting an attorney. But really, he is going to have enough issues. Either use the rent money and get out or pay him and get out. If you can't right away, please know it takes a several months for a judgmetn to be entered. YOu can continue living in the property during that time, but if you do that you will need to be paying rent. |
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wizjp
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Your rights end 30 days after the house is sold unless the buyer wants to rent. If there is foreclosure, the bank might let you stay untill it's sold.
Look into buying it or start looking for a new place to live |
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mazziatplay
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In the absence of a written agreement your rights are the same as if you were on a month to month rental agreement. If you have a rental agreement with him, you are legally bound to pay him rent as long as he remains in title and you are living in the property.
If the lender forecloses you can either vacate willingly or wait to be evicted. |
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sortaclarksville
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I would imagine he's already been notified of the foreclosure and that is why he is trying to sell it fast.
Yes, you are still obligated to pay him rent as long as he is the owner of the property. If you don't, he can still sue you for that.
Where does that leave you? Looking for a new place to live, unfortunately. Chances are the bank will not allow you to stay and will give you a 30-day eviction notice once they take posession.
If you are in a position to buy the house, look into that. You may be able to get a house payment for close to what you are paying for rent. |
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fixme2u
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Normally forclosure laws can vary. Rule of thumb a home goes into foreclosure after 180 days of miss payments. Good Luck |
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Fico C
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A lender can foreclose anytime a mortgage is not paid. Even if you are 30+ days late. You have defaulted on your contract.
USUALLY, a lender won't start the foreclosure process after two or three missed payments. Even after that, they send a notice of sale to the owner, which give them up to 90 days to pay for the house. The entire note becomes due. Depending on if the lender is still willing to work for you.
If you are renting, there is nothing you can do. Once the bank sales it, it is no lionger your family members home and they have every right to put you out. They can get a sheriff and kick you out.
Although in foreclosure it still is your family members proprty which means he can still collect rent. I don't know why he or she would be if you are family.
Has he given you proper notice? If he has not, then you can look in to other options. He has to give you notice so that you can move. You can go to a judge so that you don't have to pay rent because you will be forced to move. This is a good agruement because it looks like to won't be getting relocation cost. Go to a judge ask him to grant you a stay. Save your money for the last months and move into another place.
http://www.ficocouselors.com |
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Scotty Doesnt Know
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You are obligated to pay rent to the owner of the house, whoever that is.
Most likely, the people who will buy it will want to continue renting it to you, unless the buyer intends to live there herself. However, most buyers who buy "distressed real estate" like that do so as an investment, so it's a "plus" that you're still living there...that way, they won't have to find a tenant.
If the bank forecloses, they're going to want to keep you there too, because they'll be making some income on an otherwise nonperforming asset.
I don't think you need to worry about anything. The owner is the one with the problems. |
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John M
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if you have a lease, any sale is subject to tenant's rights. that means the new buyer has to honor the terms of your lease.
I don't know if that is true if it goes through foreclosure, but foreclosure takes time. You should start looking for a new place anyway, just in case. |
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KittyKatKayKee
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The renter has more rights than the owner. I wouldn't pay a dime. Chances are the house is already in fore-closer. At the third month of non payment they send a letter of intent to foreclose. After that there is a couple weeks time before police come to the house and slap big neon orange fore-closer stickers on the doors. It will say how long you have to leave so you can get your belongings out, cause whatever is left in the home by that date belongs to the bank. I would start packing. This happened to someone I know and it was very embarrassing for them. Good luck to you. |
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