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How Do I Know if the House I'm Renting is in Foreclosure?

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How can I find out if the house I'm renting is in foreclosure?

Tina L. Carson City, NV

Contact a local title company and ask them to check their Notice of Default list, or go to: www.rentalforeclosure.com. On May 20th, 2009 President Obama signed Public Law 111-22 "Protecting Tenants in Foreclosure Act. You should also note that the Nevada Legislature's AB140 Sections 2 and 6.7 which goes into effect on October 1^st, 2009, requires that if a sale of property is a residential foreclosure, a separate notice must be served upon any tenant or subtenant. All the Best!

Steven Kitnick, CSP, CNE, GRI, RRG

Las Vegas, NV

For Steve's Online & Classroom Continuing Education Classes, go to: www.StevenKitnickSeminars.com

Posted by Steven Kitnick on 07/27/2009 07:34 PM

Comments (10)

Rental Foreclosures in the ActiveRain Channel

rental foreclosure, foreclosure, ab140, tenants rights

This post has been included in Nevada Information
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10 Comments on How Do I Know if the House I'm Renting is in Foreclosure?

JUL

Steven,

In Clark County, NV you can go on line to the recorders site and check/search for the owners name, you should also go to the assessors site and check the address to be sure you have the right owners name.

I don't know what the change is, but currently NOD's have to be posted at the entrance to the property. This does help tenants if they are not there or the owner takes it down before you see it.

This is feel good legislation.

Good post.

Bill

Steven,

In Florida on the Property Appraiser website you can search by address to see if the home is in a foreclosure status of some type. In Florida they just passed a law to protect tenants that are in homes that are in or going into foreclosure.

It's a nasty surprise for a tenant to find a foreclosure notice on a home that they're renting. This is something more renters are having to deal with today. It's important for people to know their rights.

When I had seen all the bad news happening to tenants it sort of made me want to step back and not do leases. Now with the new found information that is helpful for the tenants, I am comfortable doing them again.

That truly is an issue.. I have actually had that happen to a client of mine..

AUG

Bill,

ab140 is a bit more than "feel good legislation". As of 10/1/09 attempting to rent out a property that is in default without telling the potential renter is a felony (3rd offense, first 2 are misdemeanors). at the time of nod the owner is required to notify the tenant and at the time the NOT is filed the filing party must notify the tenant. once the NOT is filed, according to the new law, the tenant may terminate the lease immediately if they choose without recourse from the owner. that last part is pretty important because so many landlords have in the past taken advantage of the fact that tenants were obligated to their lease even though the landlord was losing the house.

This legislation makes me feel good, but I don't think that's what you meant!

AUG

While the link is good for those homes are not in foreclosure yet, what about those homes that may be facing foreclosure? Since we ask our buyers for information such as Proof of Funds, why can't we ask the Listing Agent to provide a copy of the owners statements to see "Proof of Payments"? Thoughts?

DEC

I WOULD LIKE TO KNOW WHAT CAN BE DONE AGAINST THE SUPPOSED OWNER THAT WAS COLLETING OUR RENT MONEY BUT WAS NOT PAYING THE HOUSE? THE HOUSE HAD GONE INTO DEFAULT EVEN BEFORE WE EVEN MOVED IN SO SHE KNEW WHAT SHE WAS DOING. I RECENTLY FOUND OUT THE HOUSE WAS IN FORECLOSURE AND 2-3 DAYS LATER I FOUND OUT THE HOUSE HAD BEEN SOLD. WHAT ARE MY LEGAL RIGHTS? THANK YOU.

Norma,

Read Public Law 111-22 "Protecting Tenants in Foreclosure Act which was signed by President Obama on May 20th, 2009. You should read it! I don't what State you live in, but, in Nevada, AB140 was signed into law that required a separate notice be served upon any tenant or subtenant. I'm sorry about what happened to you and I wish you the best. Perhaps, you can contact a free legal aid center in your area to assist. If you live in Nevada - contact Attorney Robert Noggle at (702) 592-1938.

Steven Kitnick, CSP, CNE, GRI, RRG

Las Vegas, NV

For Steve's Online & Classroom Continuing Education Classes, go to:

www.StevenKitnickSeminars.com