American Morning
Foreclosure hits renters
From CNN's Deborah Feyerick
ROOSEVELT, New York (CNN) - When Lisa Brown moved into her rental house on Long Island last summer with her three daughters, she says, it felt like a new beginning.
After living in apartments, the spacious house got her attention immediately. "It was bigger than what I had lived in," she says. Brown was also won over by the neighborhood with its tidy homes and good school district. "I wanted to come here, and I wanted to see my kids graduate from this school district."
But they hardly had a chance. Instead, fighting back tears, she says, "I have to get out."
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And, for those in awe of the AIG bonuses, – grow up. Contracts are contracts, and abrogating them is something I would not have done either! If the government had done it's "homework" (Yes, you Obama and the rest of your cowboy team) and included the necessary clauses in the loans to prevent this, it would not be an issue. Don't blame AIG or its' management, blame those who lent them the money with no significant way to control or manage it's use.
Hey Laura, not everyone can afford to buy a house – I guess if everyone had actually followed that logic we would not be in the mess we are in...
Hey everyone. Instead all the weeping and wailing, lets come up with a solution. Maybe the bank could offer the renter a no down payment loan for the monthly rent she is paying? Sure beats a foreclosure proceeding.
It should be sold subject to her lease just like any other legal sale. This is disgusting to put families out because an owner defaulted after taking their money.
It's nice to know that you are all so rich that you can afford to buy a house. Some of us can't. I'm sure this woman will move out and move on, but in the meantime she has kids that need a home and to finish school. Also, I'm curious to know what her landlord was doing with the $1,900 a month she was getting from this woman? Obviously not paying her mortgage. This should be considered fraud and this landlord should be put in jail.
whoa, DB–
It's people like you that have torn our great nation and economy to shreds. Race should not enter into it at all. Maybe you bigots should all be deported. How would you re-act to that? (And yes, I'm white)
I agree there are too many handouts, but she did not break the law–the landlord did.
The handouts are all going to the iIlegal aliens-does no-one understand the word illegal????? And to the bank presidents who screwed their own companys up. When is the average, everyday, hardworking American going to get a break????
In every state I have rented, owners have always held a "30 notice to vacate" option in the contract. Either I can tell them I'll be out in 30 days or they can tell me the same. It's possible that the women in question might have had differnet, but there's no reason to believe she did NOT have such a clause.
The article is a "good" news story – single minority woman with children facing eviction at no fault of her own. It has been written to get everyone up in arms against the evil landowner. Without both sides' details, this entire thread is simply rhetoric.
Go find someone to enjoy time with and try to make the world a better place. Don't try to make sense from news – it's just there to get you emotional (and it appears to be working).
Same thing happened to me several years ago. That's one of the drawbacks of being a "renter".
In BC rentals are governed under the Residential Property Act. A landlord can evict a tenant for specific reasons but only after having followed specific procedures. In terms of asking or forcing a renter to move out when they have done nothing wrong – it can't be done. the only way a renter can be asked to leave by an owner (including a bank) is due to the owner using the property for themselves and/or a close family member (not 2nd cousin Bob) for a period of at least 6 months or if the owner is planning on doing extensive renovations that the tenant cannot live through such as completely ripping out a kitchen and/or bathroom. The owner must in either of these cases, provide the renter with 2 months notice and pay them a months rent. This includes when a property switches owners. The same rules apply and if the tenant is on a year lease (rental agreement) the owner cannot give notice for any earlier than the last day of the lease. If an owner tries to pull a fast one and gets the tenants out but then either does not use the premises for himself for at least 6 months or does not renovate, the tenant can take him to arbitration and will be awarded any costs of the move, any storage fees, any rent over and above the rent they were paying for up to a 6 month period and costs of the arbitration. In addition, security deposits must be signed off by a tenant for any damage, etc., If the tenant does not sign off the owner must apply to arbitration to keep the deposit (or portion of it) within 15 days of the last day of the rental or within 15 days of receiving written & signed notice of the tenants forwarding address, whichever is the latest. If the landlord does not return the deposit (or any portion of it not signed over) within that 15 day period the landlord will be ordered to pay double the amount to the tenant. Once a residential tenancy Order is issued if it is not followed it can be pursued through Province of British Columbia's Small Claims Court. I feel for renters in the states as it appears they have no protection at all.
I'm sympathetic, but... When renting a house, in today's market, AND KNOWING what is going on with similar situations, WHY would anyone leave this to chance? It's her responsibility to have ascertained if the landlord was keeping the house payments current. If she signed a lease, without a clause requiring the landlord to inform her immediately of any foreclosure or mortgage payment issues, then I guess she's liable too! Same goes for people who signed mortgages without FULL UNDERSTANDING the terms and conditions. Shame on you! I will NOT bail you out.
Yup it is tough all over . Not much difference as when one gets two weeks notice of a lay off because of greedy ceos and directers who mismanage company moneys and the company ends up chapter 11. No choice but to pack your rags and tools and move on after 20+ years on the job. Good luck miss Brown. Good luck to us all, we are going to need it.
Are Laura, JD, and the last patriot out of their minds? Cruel, ignorant people. Karma ...
"If she wanted a guaranteed roof over her head, she should by not own".
Boy, darned if you do, darned if you don't. If people get evicted because they couldn't make their mortgage payments, it's their own fault for choosing to buy a house when they really couldn't afford it. if they get evicted because they accepted that they couldn't afford to buy a house and chose to rent instead, then it's their own fault for not choosing to buy a house a house.
As for the legal argument, of course the landlord is *legally* obligated to return the deposit. But if she's being foreclosed upon, she's probably broke. The tenant can sue all she wants, but if the landlord has no money to be collected, the tenant's still not going to get her money back.
This same thing is happing to my family. We moved into a home in September and just found out that the home is being forclosed due to lack of them paying the mortgage, and we will have to be out by June 20th. It is auctioned on May 20th. The worst part is, we have no legal rights at all, and have such a short time to find a new place. I feel her pain. The landlords even know they were losing the house when we were renting it!!!!!!
There of course the rule that if you are a renter and things like this happen when you rent instead of buying. You are at the mercy of the market. But having said that, it is taking 2 years or more for the bank to complete foreclosures. So many unscrupulous owners are taking money from the renters while not paying the bank. The renters don't have a clue what is going on until someone from the bank shows up to change the locks and put it up for sale. Then it is time for tears, lawyers and courts. Something needs to be done about this but under our legal system it will take years for the laws to get these snakes into court. They'll never go to jail, that's were they should be.
I found out (purely by accident), that my landlord was not paying the mortgage on the property I was renting from her. In fact, my rent money was paying for her rent out-of-state. I confronted her, and she told me it's none of my business and that I must continue to pay her. Well, I haven't given her a dime and I'm in the process of finding another place to live.
I don't what is wrong with people in today's world. Everyone is out for themselves and that is it. Try having some EMPATHY(putting your self in the other person' shoes for the MANY idiots out there) for someone besides yourself! She does have children your idiots.
If we would all stop for a minute and do what we are suppose to be doing morally the world would be a much better place and a lot of this BS would not be happening.
GROW UP AND HELP SOMEONE BESIIDES YOURSELF FOR A CHANGE!!
"Let those that have the most space open the widest doors." How many of us who are owners of properties who are reading about this mother's plight, will only sigh and, then, check on the "markets"? Too many, I fear. And,later when that family joins the homeless population.....where is the compassion?
So let me get this right.......When a person rents a home, they enter into a contract with the owner. The owner allowes the renter to live in their property, as long as the renter pays rent. If someone else buys that home (or defaults) the renter has no contract. Now if the Federal Governments buys, say 80% of an insurance company, the upper administration of that company keeps the contract it had before the company was purchased, regardless of the performance of the employees. I'm confused.
I've been reading the comments and must say I'm shocked that some people are so heartless. Let's face it, there are reasons why not everyone owns a house. Some people have credit issues for various reasons, don't have the money for a down payment or any number of reasons. That doesn't mean they shouldn't have any rights. If they rented a property and are paying their rent every month, some dishonest landlord shouldn't just be able to take their security deposit and monthly rent and not pay their mortgage so that eventually the bank will foreclose. The comments made here about renters not having any rights and just to get over it and move! How insensitive!
You said it, Dean! That makes sense to me.
Renters should be treated accordingly and be notified of an impending foreclosure in order to make plans. I lived on Long Island for thirty years. It is a very expensive place to live as a homeowner or a renter. First of all it is very hard to find apartments or single family homes to rent. Whatever is available is through a realtor meaning you have to come up with three months. The average three bedroom house rents for $1,000 dollars or more. May be the lady cannot afford to come up with three more months' rent to secure another house. It can be very chaotic especially when you already have children enrolled in school. In these days of overwhelming financial difficulties, let's not be too judgemental. Why not show some care and understanding. After all she is a victim of the system, and the era we are living in. Her situation is not unique, and may happen to any of us or somebody we know.
to ram
If I sign a lease or make any contract I expect a guarenteed roof over my head until the lease has expired, this is the purpose of contracts and the new owner has presumedly bought the place knowing that there is a current lease.
Robert, so true. But from some of the homeowners' comments,this is all just business and the renter (i rent, and take offense to how condescending many are)–my wife and I are both professionals, have three careers/businesses between us, and we are doing the right thing. We are saving for a purchase and getting out of debt TOTALLY (which is another story altogether–many should look into this) and I won't let the negative comments by some "homeowners" define me or lump me into some degenerate group of people. To the ones spewing this rhetoric: enjoy your houses while you can. You will probably unfortunately lose yours as well. You really don't know what will happen the next few months.
This may sound callous, but do people understand the concept of renting? Someone has to own the property, and when that person no longer owns it, things change for the renter, whether the owner loses the property, or sells it to someone who doesn't want to rent it out. I've rented my entire life, until I got married, and my wife and I scraped together enough money to make a down payment on a FIXED mortgage. Yes, we researched before buying a home, and we understood the difference between a fixed and variable rate. It's tragic, what's happening to our economy. But people have to start taking responsibility for their decisions, even those made years prior. I think so many people are getting "bailed out", that now it's expected by all. Not surpising with our current society's sense of entitlement...
Robert,
Completely unrealistic. In the current economy, there are a huge number of people who own property and are simply struggling to keep up with the payments through no fault of their own. Increasing costs of goods means keeping up a property if more expensive, rising property taxes create more costs, and many people are being forced to evacuate their own homes to live with family while renting to try to make their mortgage payments after a job loss. I work with people like this every week, and they are not the slumlords you are trying to protray.
the economy is in the toilet, end of story. Renters, homeowners, employed and unemployed are all being hurt. That's just how it is.
Laura: I read your comment, and you could not be more wrong. It's as if you have not been paying attention to the news of the past two years. If you didn't know, homeowners are also getting the boot. News flash, Laura: Home owners are also getting kicked out of their homes. The strategy of buying and renting must be rethought given the current housing circumstances.
For some reason, you simply cannot relate with this story. This is demonstrated through your rather careless thinking on this subject.
"That’s a pitfall of being a renter. She rented knowing she DID NOT OWN so she’ll have to deal with it. If she want’s a guaranteed roof over her head she should purchase and not rent."
The English teacher in me: Please note this sentence has two glaring run-on sentences. How can this information even be credible when the author can barely construct a sentence?
How dare most of you jerks tell this woman to just buy a house. She's a single mother with three children struggling to make her way in a world that is ridiculously overpriced. Your comments are as evil, vicious, uncaring and as selfish as the owner/landlord who took her money knowing all along she'd be on the streets in a matter of months. Get over it! Why don't you try getting over it with three children in tow! You're all evil!
If I knew her address I'd send her a small donation to help.
Most of you should all be ashamed of yourselves, I am.
That's life – grow up & deal with it! I suppose we should bail her out too.
If the bank had any brains and we all know they don't hence the bailout. They would just start collecting rent from this woman and not have vacent home on their hands
I'm not a lawyer, but as a thinking person, something is not right here. A tenant deposit is supposed to be held in a separate account and MUST be returned if the tenant fufilled all obligations – which it is claimed she did. Tenant should be getting the deposit returned – and quickly too ! If there was a lease, as opposed to month-to-month tennancy, the lease needs to be honored by the new owner – they would have "bought" it subject to the lease – nothing for the judge to rule on – separate issue from the foreclosure. The real estate agent is paid by the landlord, owes nothing to tenant. Seems there is a good case here that the landlord committed fraud regardless of any other laws in New York or that particular jurisdiction. Get a good legal aid lawyer and see what kind of hornet's nest can be stirred up.
OK, it is sad but this lady can move on and again build her life. what are you, the press, trying to make out of this story? The renters need a bail out? It seem people are outraged at this because it envolves money, someone got paid at AIG because of this and that and what. Everyone need to grow up and do the right thing. Corporation sold this country for money and it started a long time ago. Politician enabled and may be not knowing the outcome but in there heart they knew what they were doing for self interest would not benefit the country. Everyone do work for self interest but there is that boundary that family, country and everything else that is American needed to be respected . . . . it boils down to values. Hope we will learn a lesson from this as a whole or may be not and then histroy will repeat itself. In the mean time, the American dream lives on; always.
And what, Marty G? Become one of the many mortgage holders that can't afford the downpayment for a reasonable monthly rent? Renting is a perfectly respectable way to have a home. There's nothing wrong with it if you can trust your landlord will pay the bills.
Does she own the house? No? Then where's the news in this story?
To Paul: That is crazy. What about the contract you signed? Maybe it's time for some additions to rental agreements that actually can attempt to protect folks from what happened to Paul? I'm not sure if that would work, but it's something to think about. Sucks, man.
Why can't the new owner be required the honor the terms of the lease? This way the previous owner may still own the property, the new owner knows that there is a tenent on the property, and the renter has some protection. It seems as if an owner is not required to live up to the terms of the lease.
Something very similar happened to me several years ago but I was fortunate enough to find out ahead of time that my landlord was heading for foreclosure and I was able to withhold the rent and recoup my security deposit and other expenses that the landlord had not paid. I feel terrible for the tenants who pay moving costs, real estate agent fees and security deposits and make regular rent payments just to find out that the landlord is pocketing the rent and letting the place go into foreclosure. I hope the laws change soon so that tenants are treated fairly.
The property rights of the new owners must be respected. It sucks that the renter is out of a place to stay, but (and I would know, I am a renter) that's the breaks of being a renter rather than a property owner. When you are a Tenant at Will, there's not a ton you can do. But it is very important that the new owners property rights be legally enforced.
A friend of mine had purchased his house from an individual. The individual took a loan on the house and then defaulted on the loan. My friend took his inheritance and paid off the house only to out that this guy had pulled a fast one. My friend was given his walking papers on Christmas Eve. He has an attorney working on it, but he had to move out of his house and is renting a house now. There has to be something to protect responsible people from this sort of thing.
Funny how this society, shows it's true (colors) when someone else has had a rough time, Oh I guess if it were your sister or mother , you'd have something to say quick, or mabey we'll get the" oh it couldn'd happen to my mother or sister becacause they know better, I'm glad you all show HOW YOU REALLY FEEL, That's why when you meet someone like me.. i don't fall for your fake bull crap, i see right thur you, .. all the time. Oh by the way when it happens .. don't ask why, don't call on God, "oh why us" .. just know what lies deep inside you, that you try to protray, it doesn't , trust me you'll know why. you have a great day!!!
Put on your big girl pants and figure it out.
Life ain't fair...move on.
I know several landlords doing the same thing. They are some of the same people that got us into this housing mess in the first place. They bought a bunch of "investment" houses with 100% financing in the hopes values will keep rising. Instead, the house values drop, so they stop making payments. In the meantime, they still collect rent from tennants. One guy I know is making over $20K a month on rental income and foreclosing on the same properties. It will take several months for the banks to foreclose (his has taken over 6 months). In the meantime, he can take all the cash he just made and buy several foreclosed homes at discount... and pay cash. Why worry about your credit score when you can pay cash?
This sort of thing is illegal in the stock market. Why isn't it illegal in other investments like housing? Tax penalties need to be put in place for people in this scheme. 99% tax on income from a foreclosed property! Tax break to the evicted.
Its sad, but thats because you are renting, if you owned a house and paid the payments on time you would be fine. Stop passing the buck here, just move, its not that bad!
Poor renters??????? SHE'S NOT THE OWNER!!! The owner or the bank can do what every they wish. If she want's a say in the matter she needs to purchase the property.
Matt,
Bankers are not devils in suits any more than you are. Banks loan money as a business – to make money back for their shareholders. Many of those shareholders are also homeowners in turn, and need the income to keep up their own mortgatges. Displaced renters and homeowners forced into default are both sad stories, but there is no justification for vilifying the banks and their shareholders.
My roommate and I got stuck at the beginning of the foreclosures (February 2007) – when we got a letter from a bankruptcy attorney offering to help us – assuming we were the owners – which we weren't. Enclosed in his letter was the foreclosure announcement that had appeared in the Washington Post. (Our landlord had moved to Michigan with the Coast Guard and bought a huge house there – which he was undoubtedly using our rent payments to pay his mortgage with.)
We had to move in less than 2 weeks. My roommate never got his deposit back – and the bank didn't even know there were any tenants there. Thank goodness their info was in the foreclosure notice the attorney had sent us – so we knew who to call.
But that sent us scrambling when we had plenty of other things to use our money on than moving and coming up with more deposit money.
Something needs to be done to help renters at least get their deposits back from these individuals that have left us holding the bags.
It's a business deal with it. Banks work ONLY with owners because the OWNERS hold the deed or mortgage. If the renters want a say in how the property is transfered than they'll need to purchase the property and they can then call the shots, otherwise they have no say.
I am an economist, and all of you should pay attention to Otto's comments on this blog. Where is the justice, ladies and gentleman? Why isn't the government taking care of its own? It's women like Lisa who have fallen victim for somebody else's mistakes. The travesty in all of this is what the government is not doing for its people. Lisa and all the RESPONSIBLE AMERICANS deserve a better fate.
Laura I hope this happen to you and your family. How dare you in times like this have a heart of Ice. We as Americans need to help each other in times of need. I should not say I hope this happen to you but for you to say that is what she gets is totally uncool. This economy will not bother you of course, but there is some people out there trying to do the right thing and provide for there family in a honest way like this lady and people like you just put the dirt on her early. Take the person that took all your money to court and get your money back so you and your girls can have a nice safe place to live again. I'm just so angry with people like Laura in tim like this. So CNN you got your answer to the number one question. Have people changed in hard time? No they are some out there just as bitter as Laura, but we will keep both Laura and Lisa in our prayers. America WAKE UP AND HELP ONE ANOTHER.....
Had it happen to my family back in 94 or 95. It happens regularly however due to the current state of the economy, I would think it's happening all the time. Just have to suck it up and go find another place. We where young and poor back then and we made it. So will she.
Absolutely agree with aj and Marie. I'm so tired of hearing the excuses of what the homeowners are going through. But I suppose that when we all see folks in AIG, Citibank, etc. profiting and not paying for their blunders, then I believe it is why many (certainly not all) homeowners are treating their tenants so badly, and stealing from us. By the way, all the homeowners with such attitudes towards us renters....those of us who DO pay on time every time, we are KEEPING your houses afloat for you so you can continue to enjoy your title of "homeowner." Wake up.
Grow up? says san francisco resident? She should just get over it? She's got kids with no place to live.
Hey, AIG! What's up? San Fran Resident it totally cool with you paying out all of those billions of tax payer dollars to crappy employees because it's legal, ok?
Grab a bowl of ethics, sprinkle some morals on, and wash it down with a glass of suck-it-up! Since foreclosure doesn't just happen overnight, the homeowner had a moral and ethical obligation to notify Lisa Brown so she could find a new residence. It's what you do for people to be a part of humanity.
Buyer beware is only correct IF there is full disclosure on potential liabilities...renters lease in good faith-leasor should be doing the same. Renters have rights too.
Not all who rent can afford a home OR should own a home which is how we got into some of the current situation.
Evictions should have built in grace periods covering owner liability. 3 months sounds about right to me.
Home ownership is part of the consumer society modern myth.
For those of you who say "just buy a house" I can tell you it is not always that easy. I have been in her shoes as a single parent unable to come up with a downpayment–you are at the mercy of your landlord, and they are not always scrupulous.
Just because they are renting doesn't mean they can't buy a house, as a matter of fact we don't know anyones situation about why they rent and not buy! It still doesn't justify being tossed out on the street. It is easier to pass judgement when it's not YOU!!!!!
The plight of a renter is instability long-term. It's part of renting instead of owning for one's own self. If the homeowner cannot keep up with their mortgage, then selling the home is the only reasonable action for the owner or the bank following default. Renters can either move to another rental property or take a more permanent solution and buy a property of their own. There is no more expectation of permanence when you don't own your home. Nor should there be.
What kind of a heartless (unmentionable) would ever evict a GOOD tenant who paid their rent on time? Regardless of whether or not the landlord defaulted on the mortgage, it just goes to show you how these banks don't care about people. At the end of the day they're just devils in suits looking for their next life to destroy. And I really don't care to hear about o they're renting not owning. Whoever says that is a heartless (unmentionable) themself, not recognizing that some people don't have the luxury of owning a house, but may have THOUGHT they had the luxury to bring their KIDS to a better lifestyle so they could OWN their own homes. So don't give me that garbage John Morgan. You spoiled, high life.....half of people don't know what real struggle is like...I just hate that her KIDS who are COMPLETELY innocent may have to experience this if she can't catch a break.
I see this happening alot. i beleive it is fraud for owners to do this to renters, knowing they are not paying their mortgage. Poor Renters out all their money alot of times.
As a real estate agent in Georgia, I have seen this happen time and again. We need to recognize this practice for what it is – stealing. The landlords know they are not paying the rent but do not share it with the tenant. They should be prosecuted so that the tenants receive money back or the landlords receive jail time. Threat of jail time would make a big difference in the landlord's integrity.
To the people receiving questionable bonuses while taking tarp money, from AIG, Citibank, Merrill Lynch, Bof A and the like... step up and help these people out and make them whole. they're facing this situation in part as a result of your actions... it's only a few thousand dollars to you, but it's the world to them. and you'd be surprised how you'd feel. and to the landlords who are taking the money and pocketing it. shame on you. figure out a way to get it back to them. it's high time we started changing our behavior as opposed to merely leaving us all in outrage.
This happened to me and my kids a few years ago right after my wife passed away. I paid rent of $1200 per month on time and had a $5000 security deposit and suddenly found myself with a 30 day eviction notice. The worst part is trying to get a new home in less than 30 days, which I wasn't able to do and ended up homeless living in a hotel for two months with my kids. I lost my $5000 and ended up in the hospital after suffering from congestive heart failure caused by what I thought was a cold.
Two things: All renters should make sure there is a clause in a signed by all parties rental contract protecting the renter for owner's fraudulent non-payment of their mortgage. The next thing is SQUATTING.
This is why home owners should have to pay every penny owed on forclosed property. I don't feel sorry for anyone who's home is being foreclosed. Why should folks care about a homeowner losing their home but not a renter losing theirs? We shouldn't allow homeowners to be crooks by not paying their mortgages and not pay the bank what's owed. They should never be allowed to buy another home until they pay 100% plus interest what is due the banks.
The "Rentor" should be prosecuted for receiving money under false pretense. Were I the judge he/she would reimburse this lady all rental money due her.
Hey Laura, there IS NO guarantee even for "owners." Watch the news.
re: Marty G (324 3:31pm)
Yes. As the owner of the house you can sell it. The lease that your renter has will continue (or get bought out).
This article is about renters being evicted because the house was foreclosed. Quite a different story than the owner selling it. Presumably, you would tell the new owners about the renters in the house.
This story is happening all too often. Renters pay their rent on time, the owners pocket the rent, lose the house in a foreclosure and the renters cannot recoup the security deposit or any of their rent. And, usuallt given only a few days in which to move.
The banks should also take the hit if there is a renter on the property, they should give back the money that was put up for security. The person(s) should have some sort of lease to prove it. If no lease then there is a problem with the renter.
Yeah well.....she's black. They'll see to it that she gets a new house built for her by Habitat for free, furnished and with a new car in the garage and a pantry full of food and closets full of clothes.
These kinda stories of greed on the landlords part makes me wanna add the death penalty to people like that. I'm totally disgusted with what these folks have to put up with now. I feel for her becuase even in small claims court they dont have to pay even if the judge thinks the defendant is guilty.
Don't blame the landlord, Sign of the times. I have a renter in one of my homes but only because the home is in Michigan and I cannot sell it. I also work in the Automotive industry which at the moment is tanking in this country. I am fearful that I could lose my job at any time and if that happens, the renter in my other house may be out of luck just as I would be.....
I don't have a problem with a renter being forced to move out if they are notified the same time the owner stops paying his mortgage. That would give them time to find a new place. It's the sneaky, lying landlords who stop making their mortgage payments and still keep accepting the rent.
Renters already have enough laws protecting them. We need more laws to protect the people that worked hard and saved enough money to buy a house.
This happened to some friends of mine . I think some general guidelines would be helpful. If a person had rented for under a year, a 30 day notice; etc, with longer notification periods depending on the length of time the family had lived in the dwelling. People who have rented for long periods of time, understandably have a harder time finding a new suitable dwelling. Of course the buyers needs are to be considered but 120 days is not unreasonable when uprooting someone who has rented a dwelling for 15 years...
Wow!! There are plenty of people here with heart....not! This is an honest person dong what they are supposed to be doing, going to work, paying your bills and taking care of your family.
You're going to tell me that if this happend to you, you would shrug your shoulders and say, "Oh well"? No, every one of you would scream in protest.
This woman and others like her deserves thier money back. The owner has a responsibility to the renter to pay the rent.
Fraud?
How can you be so cold??? This country has been going down the tubes for years and now no one has the heart, to give and keep giving to the taxpayer. Why can't the banks still sale to the people that are paying their rent on time, the home they are already in. Start with the renters, begin rent and just cut the losses from the (owner) that went through the foreclosure. I don't understand why there is so much greed in AMERICA!!!!! Lighten up banks.
Unfortunately, it is buyer beware with renting from private individuals. As a single mother, a woman is streetwise about many other things, but you need to also be savy about this too. My landlord has lost her job 6 months ago, owns two condos (one I rent) and a lien has been placed on my unit by the homeowner's association. I know about the lien because notice was on my door. Don't igore anything. I check on line with my county each month to see if where I live is in any state of foreclosure, as well as her primary residence in a different county. My lease isn't up until the end of August,, and when I checked with the state division of housing they told me I have no rights either. I put down one months rent as a deposit, and when I give notice I will not pay the last month if it looks like I am not getting my deposit back. Let her sue me. I am not going to be blind sided. If I rent from a private owner again, I will check them out in advance and monitor their status also.
Short, true and sad story.
I am a renter and moved into a 4/3 house in June 2008 after providing the owner of the property the traditional first, last and security a month earlier. After moving in the monthly rent check was always provided at least 5 days before the due date and was sent via overnight delivery. In December 2008 I was served with foreclosue documentation which stated the last date the mortgage was paid was in May 2008 – one month prior to my move-in date. A strange twist in my story is that a couple of days prior to being served I had met with the owner of the house who asked if there was anything which needed to be addressed with the house. He re-assured me that everything was ok on his side and that even though his finances were tight that the money I was paying was more than sufficient for him to cover the monthly mortgage on my house. Obviously not. Luckily for me I should not have to move out of the house anytime soon as the (Florida) courts are so backed up right now with other foreclosures I should be able to live in the house through the term of my lease as I am now paying the bank directly.
As a renter, I have to say that many of your comments are heartless. Here's a woman who has done everything right, and now her life is messed up by other people's problems. These are the real victims of this tragedy, not people that got in over their head and are now being bailed out by the federal government
Laura and to the others who say it is her fault. All these chiefs and not enough Indians. I often wonder when people get the rug snatched from under them, it is their fault. I feel for this lady. You don't have any idea what kind of situation she is in. Maybe all she can afford is to rent and not buy at this time. I can honestly say that I am renting and it is all I can afford right now. I pay my rent on time and pay my bills and I am fresh out of college. Some peoole aren't as lucky as you Laura to purchase instead of rent.
We, as a society, need to understand that although all of us have been affected by the economic melt down, it is the poor and disadvantaged that are affected the most. They do not have the education or incomes to overcome this type of thing. This lady is obviously trying her best to afford her children a better life and to give them opportunities that she may not have had when she was younger.
Our universal policies do not deal with individuals. They are made to serve the masses. Hoewever, when something like this occurs it is imperitive that the policy be tailored to keep the affected individuals from slipping back into the poverty and helplessness that they are trying to get out of. The more fortunate need to help the less fortunate.
Peace.
Tough luck for those renters. But those people have to remember they are renters!!! They are not renting to owning!!! How about the poor landlords who have renters leave their places without paying their bills. AND the companies want the landlords to pay those bills!!!
Takl about not fair!!
rentalforeclosure.com – all you have to do is enter the address & check before you move into a house
I think it is sad that people are losing their homes. Banks are to blame for this because they were giving out rediculous loans which the homeowners defaulted on. Plus with companies laying off people, it's a real nightmare.
This also happened to us just last month. We paid the owner (via realtors) first and security and just after three months of moving in, the owner told us she was most likely losing her home and "to find a place soon." We paid on time. We still have not collected the two months that she took from us. Also, she admitted that she knew at the time of signing that she already had some trouble. Her realtor told her "it was OK' to go ahead with the rental (of course, the realtor is getting her commission). We can check out possible landlords all we want, and they may not be currently in any trouble, but could be in that situation in week or months. We are hoping it won't happen to our current landlord.
its time something is done and create laws on leasing. Landlords are getting away with alot, The laws in many States cater to Landlords. The goverment has to step in and protect the victums which are the renters. Time to fight back and not let innocent people who are looking for a better life and then have to go homeless. In Arizona its a everyday thing here with foreclosures. Many going to shelters with children. If this Goverment can help other countries then they should not forget the people of America. This should be a criminal act commited by landlords. If i spent my mnoey and left my kids homeless I would be held for child neglect. This goverment should be held accountable for Neglect of Americans.
She's a renter, deal with it.
As an owner if I want to sell my rental property the renter has no say..period.
You got to be kidding me! How about working on a law to help the homeownwer . What about all the deadbeat renters who don't pay their rent and refuse to leave. The renters already have all the rights and laws in their favor. By the looks of the picture the home mention in the story looks really nice and it didn't mention how much a month they were paying in rent. I am sure they could have made the same payment and owned and paid taxes on their own home. This way they could be sure the mortage was being paid! Yes its too bad for these people who really do care, but please the other 99% of deadbeats that I've meet don't need anymore laws to provide yet another handout at the expense of the landlord.
The same thing happen to me in Pine Bluff, AR. It is a shame and disgrace to how we can be citizen of the U.S. This man is a preacher and when you have the man of GOD not concern about the well being of other, his priorities are in the wrong place. I lived in this home for 7 years. My three kids were just shocked that we had to move. Not knowing where you are going or what you are going to do is stressful.
You cant just let it that too much time,money, and entergy gone.
The need to be something done about it. If the legal system is the way then that is just what must be done.
we are renters and were served with the foreclosure papers as the owner of the property lives off island. (we live in hawaii). we are renting this property thru a property management company and i took those papers to my property manager first thing monday morning. she called the owner who knew nothing about the foreclosure as she was letting her daughter deal with the property i was renting....long story short, the property was refinanced and we are still in the house....and we do have a lease ...........very scary to think your money to pay rent on time is not going where it is supposed to...and you as a renter have no rights in regards to this.
This happened to us back in 95 in the state of GA. We found out we were being evicted when the County Marshall tacked a notice to our door. We had five days to get out. Tried to call the owner, no answer. Tried to call the bank, they didn't care. The owner just pocketed about 10,000 dollars of our rent. We had an attorney friend who filed an injunction at the county courthouse that got us about 60 days to get out and we got out. We never saw a penny of our money and we had no rights in the matter.
The simple thing I am tyring to understand is why renters are not made aware of the owners (and the properties) situation. It would seem that "buyer beware," in this case a renter having to check on the credit and status of the property would be a good idea. The only propblem with this is of course the renter could check on the status of the property, and then that status could change quickly. Is it that the banks turn a blind eye to this, or do the banks just not know that the property is being rented?
At the end of the day, I feel for these folks. It would seem that this person was paying the rent on time, did everything correctly, yet gets left holding the bag, including her moving costs associated with moving and finding a new place to rent. Looks like some renters rights may be in order?
If you don't like it the prospect of getting forced out of the lease, buy a house. You're not entitled to stay, you don't own the home.
All i have to say is where is the help for the honest so called middle class people, we can't qualify for any assitance but sure are good enought to take our money and throw people like Lisa brown out in the street with no money there to help her and a lot of others in her position, but we have biliions to bail out the insurance and bank companies.
That's just not right!!!!!
Let's not blow this out of proportion.
Of course tries to do so by selecting a very specific case:
– Black (racism!)
– Female (sexism!)
– Mother (think about the children!)
– Outlandishly high security deposit (3 times a months rent??)
At the end of the day the only exposure for renters is any money that has been pre-paid, which is typically a security deposit or last month's rent. Of course it sucks to lose that but typically that is one month's rent.
Beyond that, is it really so hard to just move down the street, to a similar house, with a similar rent?
A renter is really not that different from a child living with parents. If the parents get foreclosed on, the child moves out, even if he did his chores on time. It is a bit curious that an owner would go into foreclosure if he's getting rent payments unless he's quite unscrupulous, though, since the rent should cover the mortgage. I really don't understand the rationale from his standpoint, unless he paid zero down on the house and can handle the credit hit of foreclosure – then I guess he just pockets all the rent payments from the time he stopped paying the mortgage. Judging from the story (she moved in last summer), maybe he never paid the mortgage at all...
In general, the renter should get the deposit back, but perhaps she wasn't too careful about paperwork? If she does get it back, then she really has nothing to complain about. Your landlord is under no obligation to let you stay forever.
(Type Correction)
That’s a pitfall of being a renter. She rented knowing she DID NOT OWN so she’ll have to deal with it. If she want’s a guaranteed roof over her head she should purchase and not rent.
That's a pitfall of being a renter. She rented knowing she DID NOT OWN so she'll have to deal with it. If she want's a guaranteed roof over her head she should purchase and not own.
So what. The ownership changed and the new owner can do what he/she likes. It's not fair but grow up, what is?
We were in that position, however the eviction only trumps a lease if the lease is paid monthly. We paid in advance It was not a relative who owned the property(no bias). The Judge allowed us to stay for the length of the lease.
This is happening all over. At the present time we have a tenant in a home that has been foreclosed on. He is out several thousand dollars. The bank has offered him money to move out and he has rejected that. I am assuming that he is staying in the home as long as possible and not paying the rent. I feel for him and his family because he has paid his rent on time and also gave a security deposit. it is gone. Renters should go through a property manager so that at least the deposits are held in escrow and not given directly to the owner. We are able to go to county records and find out which homes are in preforeclosure so it is important that it be verified before allowing someone to rent the property.