My husband and I are currently renting a home and received this notice on our door.
Thanks to ALL OF YOU for your responses. I really appreciate it. It is definitely a very sad situation. I've been doing my research and have learned a lot- our landlord has definitely been pocketing our rent for over 25 months. I am still very livid about this situation because about 6 months back I had asked the landlord if he'd be willing to decrease the rent to $100 and denied my request. My husband helped him rebuild the fence within the year when it was blown away by a storm. My husband added him onto our PGE bill because the landlord said he needed to be on it--ALL THIS..and to pocket our money. Obviously, wasn't thinking about us and our family. I should just go ahead and report it to the bank. This has been an extreme stressful, sleepless few months. Again, thank you to all that responded.
Oh dear, it means the owner is not paying the mortgage.
You need to find a new place to live. So sorry :(
Your home is being foreclosed and sold. You need to find out how long you have and whether you will be evicted.
That means that your landlord is behind on their mortgage and the property is being foreclosed on. There will be an auction to find a new owner for the property. It means that you will need to find a new place to live, unless somehow the new owners will still rent to you.
So sorry, what a terrible headache!
it means your house is going into foreclosure. In California, you have approximately 21 days before they sell the house.
You need to contact a lawyer and your landlord to find out what is going on.
Sounds like what everyone else has said, the place has been put into a trustee's hands to be sold--most likely due to foreclosure. You will need to find a new place to live. One suggestion though is to find out what California's laws are regarding eviction of tenants. Here, they have to give a certain amount of time and a letter must state what is happening. Make sure you have copies of any rental receipts. and if you no loner pay the rent, then make sure you hold that money just in case. A friend received an eviction letter. The landlord stopped coming around to collect but since she was able to show she held the rent in case he came for collection, the bank gave her 90 days to move instead of 30 or 60 that is required. Some states have special laws just in case so tenants do not end up on the street within a few days because their landlord failed to pay.
Hoo boy! This may be a very bad sign! We relocated to this area 2 years ago, and as such, decided to rent when we moved. Anyway, we received a Notice of Trustee Sale on our door, and immediately called our property manager to report it. The actual owner of the home was shocked, because he is an investor who purchased the home on the steps of the county courthouse before he turned it into a rental - so he owned the house free and clear! Anyway, long story longer, it turned out that some shady company had bought some "bad debt" that the previous owner had incurred and was now attempting to collect on it by filing foreclosure on the house. The only problem with THAT, of course, was that 1) it was past the statute of limitations, and 2) the person who had previously owned the house, didn't own the house anymore, so the lawsuit was invalid anyway. It was an illegal foreclosure, bottom line. But our landlord had to send his lawyer down to the courthouse to sort through it. The foreclosure was dismissed, and life went on as usual.
Call your LL and advise him/her of this notice. There may well be an error. If not, you should immediately send a letter, fax, e-mail (or all three) to the party foreclosing on the home (usually Ndex West or someplace like that). Tell them that you are a renter living in the home. RENEW YOUR LEASE NOW if you are month to month! If the home is actually sold in the trustee sale, the new owner must acknowledge the term and pricing of your lease. You can't just be kicked out. If you have no lease and the LL won't sign one, you have 90 days after the date of the foreclosure to leave the property, or otherwise negotiate a lease with the new owner. But you must notify the party foreclosing upon the property that you are a renter, otherwise the Sheriff will show up to kick you out shortly after the sale. :-/ Good luck, and hang in there! It may not be as bad as it seems right now! Get the facts, and go from there.
You need to find out how long you have before you have to move, as the owner isn't paying the mortgage, So sorry.
It means the home is being foreclosed on. You should find a housing lawyer. Depending on the law in your state, and your current lease, you may or may not be able to stay.
When a property is purchased a Deed is issued. When a bank gives a collateralized loan, they will issue a deed of trust against the property, until paid or transferred. When the loan goes delinquent, part of the process of the trustee sale is the Notice of Trustee Sale.
The time it takes depends on the bank and how well they process the foreclosure. It is possible the homeowner is working out a deal with the bank and possibly going through a short sale. My neighbor rents the house on the corner and he has been getting notices since before the wife became pregnant and the baby is now 3 months old.
It is best to call the owner or rental agent and let them know what you have received. In the meanwhile, you have an agreement with the landlord to pay x amount of dollars for rent, until you vacate.
That is my understanding.
That is usually the last step in foreclosure. Does it give you a sale date? If so, that's when the bank will be taking the home back from your landlord because they aren't paying the mortgage. You could all the landlord/owner and ask them whats going on. They could be in the modification process and until approved the bank will continue with foreclosure. You should also call the bank to let them know you are renting there. Are you in a lease or are you month to month? The bank will work with you to get you moved out of the house but they typically try not to give you much time. You can ask for cash for keys from the bank meaning you'll be out by x date if foreclosed and you will leave the home in a clean sellable condition. You should ask your landlord/owner for your deposit back now, you might have to fight them in civil court to get it. I would put your rent in savings going forward, you can show the landlord/owner that you have it and will gladly pay for rent due if foreclosure is stopped but that you will keep it if the home is foreclosed as you will need it to rent another home. You should also check with local free counsel for assistance with the matter. Good luck.
