Foreclosure on rental, what's a tenant to do?

[30A Skunkape]

What Mango said. If it isn't on your credit report it doesn't matter in the grand scheme. Check your credit bureaus, and if there are any inaccurate public records dispute with the bureaus;they can't legally report inaccurate information, so if they don't fix it quickly start talking lawsuit and it will get fixed. You will want to do all this through certified mail.

 

[SHELLY]

What Mango said. If it isn't on your credit report it doesn't matter in the grand scheme. Check your credit bureaus, and if there are any inaccurate public records dispute with the bureaus;they can't legally report inaccurate information, so if they don't fix it quickly start talking lawsuit and it will get fixed. You will want to do all this through certified mail.

Geez Louise!...the crap that's coming out of this bubble just never ends!

If you find you have to go through the trouble of writing letters to the credit bureaus <because your credit got dinged> identify on your letter and send a copy to a couple of major newspapers/magazines (WSJ, Newsweek, NYTimes, etc)...they love writing about crap like this and maybe, when the reporters contact the agencies or the courts for background information, it might help move along getting your name removed from the documents.

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[TooFarTampa]

Geez Louise!...the crap that's coming out of this bubble just never ends!

This is so true. Just the other day one of my best friends was telling me about her sister in law, who apparently was one of those fraudulent mortgage brokers and will probably go to jail. My friend's MIL and aunt are going to lose their houses, the sister in law has no cash flow so she has allegedly resorted to selling coke. Looks like there were a lot of crimes of opportunity in the lenient lending market, and lots of people who shouldn't have been eligible to get duped were. You sure called it SHELLY ...

 

[JOE who]

Thanks for the advice Mango and Skunkape... I've checked my credit and so far i'm in the clear... However the foreclosure isn't complete yet, so should i check it after all is said and done???

Thanks again...

 

[Mango]

Thanks for the advice Mango and Skunkape... I've checked my credit and so far i'm in the clear... However the foreclosure isn't complete yet, so should i check it after all is said and done???

Thanks again...

You're welcome. It wouldn't hurt to sign up for one of those services that alerts you when inquiries or changes have been made to your credit, but, I think you should be fine relative to the foreclosure.

You can also hit the thumbs up thanks button on the helpful posts made on the rigth hand side. Skunky and I are being left in the dust by Smiling JOe.

 

[30A Skunkape]

Thanks for the advice Mango and Skunkape... I've checked my credit and so far i'm in the clear... However the foreclosure isn't complete yet, so should i check it after all is said and done???

Thanks again...

Oh, and hey, IF you want to make your landlord a wee bit uncomfortable while living up to your lease...

File a copy of your lease with the court as some sort of item associated with your landlord's foreclosure case. Then, compose a note that in essence says you plan to live up to your lease but are not too sure who should be getting rent money and you thus plan to give it to the clerk of court 'to hold on to'. File this as well. Then, take your rent money and give it to the court to hold. Not only is this perfectly legal it will at the very least force your landlord to drag themselves to the court to pick up the $$$, and who knows, they may choose to avoid the courthouse at all costs as they may have papers that need to be served on them and they might be trying to lay low. If it goes unclaimed you might be able to go back at some point in the future and recoup it as the property may have changed hands two or three times and a rightful recipient may be difficult to identify.

 

[JOE who]

Oh, and hey, IF you want to make your landlord a wee bit uncomfortable while living up to your lease...

File a copy of your lease with the court as some sort of item associated with your landlord's foreclosure case. Then, compose a note that in essence says you plan to live up to your lease but are not too sure who should be getting rent money and you thus plan to give it to the clerk of court 'to hold on to'. File this as well. Then, take your rent money and give it to the court to hold. Not only is this perfectly legal it will at the very least force your landlord to drag themselves to the court to pick up the $$$, and who knows, they may choose to avoid the courthouse at all costs as they may have papers that need to be served on them and they might be trying to lay low. If it goes unclaimed you might be able to go back at some point in the future and recoup it as the property may have changed hands two or three times and a rightful recipient may be difficult to identify.

That's great advice but the lease expired six months before the bank filed foreclosure papers, plus i've already moved out...

 

[30A Skunkape]

That's great advice but the lease expired six months before the bank filed foreclosure papers, plus i've already moved out...

Sorry. Well, I feel safe in predicting we will not be the last victims of this irritating situation and it might help the next guy.