Comments on: Auction investors, REO brokers, and renters take note – significant change to eviction notice requirements

By: Tom

Tom — Wed, 30 Nov 2011 23:55:10 +0000

The lender agreements I’ve seen have way too much boilerplate to copy.

I recommend you make the agreement simple, clear and easy to understand, yet having enough teeth to make the contract enforceable

By: Elaine

Elaine — Wed, 30 Nov 2011 23:52:56 +0000

Is there such a thing as a standard form for cash for keys agreement or do I need an attorney to help with that?

By: Elaine

Elaine — Wed, 30 Nov 2011 23:51:01 +0000

Is there a standard form for cash for keys agreement or do I have to go to an attorney to get help for that?

By: Sean O'Toole

Sean O'Toole — Wed, 30 Nov 2011 23:33:19 +0000

If you record the Trustees Deed within 15 days, your ownership is effective as of 8am the day of sale. If you record it after that, your ownership would begin the date you recorded the deed, and you can charge rent from that day forward.

By: Tom

Tom — Wed, 30 Nov 2011 23:25:28 +0000

The PTAF, as posted, states it sunsets 12/31/2012. The act has evidently been amended; the sunset date is now 12/31/2014.

By: Elaine

Elaine — Wed, 30 Nov 2011 23:04:00 +0000

I bought a property at trustee sale paying cash. There is a renter on the property. the auctioneers told me I own the property right away because I paid all by cash. However I have been told that I cannot charge rent for the month because I failed to record the grant deed within the 14 days window of the sale. Is that correct? I never heard about this before.

By: bear river insurance agents

bear river insurance agents — Tue, 15 Nov 2011 00:09:13 +0000

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[...]Auction investors, REO brokers, and renters take note – significant change to eviction notice requirements | ForeclosureTruth[...]…

By: Sean O'Toole

Sean O'Toole — Fri, 30 Sep 2011 15:45:14 +0000

They can not only force you out through an unlawful detainer lawsuit (an “eviction”), they can also get a court ordered judgement against you for the rent as they are absolutely entitled to it under the law. A judgement will show up negatively on your credit report as a public records item, can be sent to collections, and if you try to borrow money in the future you may find you have to pay it before anyone will make a loan to you.

By: Virginia

Virginia — Fri, 30 Sep 2011 15:38:26 +0000

I am in a foreclosed condo, as a tenant, the bank has demanded we pay them the rent we have always paid. But why, do we need to pay rent? We are on a 90 notice. Do we have to pay rent? The condo’s washer just gave out and the bank’s lawyers have been trying to contact them to see if they will repair the washer. It has been two weeks now. Why pay rent, they are not going to fix anything. If I stop paying can they force us out?

By: winjo

winjo — Wed, 17 Aug 2011 03:34:05 +0000

My house went back to the bank on 8/12/2011, I live upstairs and I rent the downstairs & garage to my Daughter and her family (Husband and 2 kids). I have a signed residential renters agreement (month-to-month) stating they are renting part of the resident from me. I can move out in two weeks but with the two kids and pets, it will be hard for them to move out in a short time frame. My questions are:
1. Because I rent to my daughter, is she & her family covered under the ‘Protecting Tenants at Foreclosure Act of 2009′? (It’s unclear to me about renting to a family member)
2. Is she entitled to the 90 days before eviction process?
3. If I leave and she stays will the eviction be on me or my daughter?