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House Being Foreclosed |
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we are tenants of a house on a foreclosure. we've been paying since last month but now there is a for sale sign. i called the realtor and said our property has been forclosed and we have to leave as as possible. our landlords didn't tell us about this and it's common sense that my landlords are not paying their mortgage for probably 12 months now..we're paying $2600/ mo for this house and gave a deposit of 1000 plus first and last month's rent on a yearly condition..i don't want my children to go thru an experience for being evicted by the sheriff..what should we do? my credit is not that good and it'll be hard for me to get a good apartment..need your advice of what to do? i've read this cash for keys option..is that legal? how should i ask for it..thanks..i just need help-clifford baltazar |
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You don't tell me where in the foreclosure process you're at this point, but if I were you I'd start looking for a new place immediately. You've already paid your last month's rent so you could skip that as soon as you've found something. You could also ask for your security deposit to be returned, but I'll bet you don't have much chance of getting it. Then you could go to small claims court, but even getting a judgment might not be worth the trouble if you couldn't collect it.
Cash for keys is a sum paid by the bank that has taken over the property, to you in return for leaving the place promptly in good condition. If the foreclosure has already taken place, you do have a new owner and would talk with the bank directly about it.
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Originally published on July 22, 2008 |
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