Re: Renting a home that may be foreclosed
Posted by Jayhawk on July 13, 2008 at 21:38:13:
In Reply to: Re: Renting a home that may be foreclosed
Posted by BooKooGuru on July 05, 2008 at 09:31:58:
Don't forget about your security deposit. If the landlord loses the property it may be very hard to get your security deposit back.
You can check the county records to see if the property is in the foreclosure process. Some research will also give you the day of the sale. Often the trustee (lawyer doing the foreclosing) will give you a copy of the lawsuit. You would be the unnamed tenant.
Some states require the landlord to keep the security deposit in a separate bank account. That does not mean the landlord will give you back your security deposit without a fight. After all the landlord is losing the house, and your security deposit is not all that important to that circumstance. Good luck and watch your back.
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