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tenants: Governor Schwarzenegger Signs Foreclosure Bill with Protections for Both Homeowners & Tenants - 07/09/08 12:25 PM
Homeowners of foreclosed properties are often so desperate to find a way clear of the situation that they can fall victims to the unscrupulous. For renters the only difference being they usually become victims much sooner and are often unaware until they find out they’re homeless.
The current surge of foreclosures has been said to be the worst since the Great Depression. A shockingly increasing number of foreclosed single family homes, at least one fourth according to the California Apartment Association (RealtyTrac.com puts this figure at close to 38% nationwide), are tenant or non-owner occupied. These families often have … (7 comments)
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tenants: Renters in Foreclosure Also Scam Targets - 07/08/08 01:26 PM
In July 2007 Alberta and her husband signed a 2 year lease option agreement for a home in Hesperia, California only to find out 10 months later that the home was in the final stages of the foreclosure process and that it had entered default the previous December. At the same time they found out that the person being represented as the owner (landlord) was neither the property owner nor the owner’s representative. They had paid over $20,000.00 dollars to a scam artist with no hope of getting any of it back.
A lease option or lease-to-own agreement typically asks … (1 comments)
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tenants: Tenant Protection from Foreclosure Through AB2586 - Corrrection - 06/14/08 12:56 PM
Once again California is ranked #2 of the top five states when it comes to home foreclosures with the Inland Empire ranking #5 in the metropolitan top 10—certainly not a positive distinction. Foreclosure is so widespread that it seems impossible to be unaware of the plight especially as a real estate or mortgage professional. The list of those that suffer because of this scourge seems endless…owners, renters, marriages, children, pets, contractors, homeowner associations and on and on.
Tenants becoming suddenly homeless due to foreclosure has become a common problem it and protection for these innocents needs to be addressed. – landlords … (13 comments)
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Lynnette Phillips Real Estate Consultant
Yucaipa,
CA
More about me…
Address: Yucaipa, CA, 92399
Cell Phone: (909) 327-8600
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