It happens all the time.Renters move in and pay their rent and security deposit and then months or years later they start getting notices on thier door and things don't quite seem right.
With the default rate going up on homes across California and other parts of the country it is important to know your rights as a renter when the home you rent goes to foreclosure.
In many case across the Golden State renters have lost thier deposits simply because the didn't know who to look for after the home went back to the bank. In some instances the bank contacted the renters and told them to move out and they would cover the deposit only to not do it later when they finally got the tenants out!
Tenants in California can sue thier fromer landlords for expenses of moving,new credit checks and the difference of what they were originally paying on thier lease VS the new lease.But finding the old owner might be the hard part as many have moved...and moved on.
The old saying of "you can't get blood out of a turnip" have never been truer for some tenants that have to go through this experience.
My advice to tenants that question a notice on the front door one day is look in the local newspaper under the legal section.If you see the home that you are living in the "Notice of Trustees" sale section then you know its time to start making plans to move....and to try and get your deposit back ASAP...before they flee!
Regards,
Rick Goates
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