With thousands of foreclosures in San Diego and hundreds of thousands of foreclosures throughout Renters being foreclosed onthe United States many renters are asking “What happens to us if the home we’re renting gets foreclosed on?” First of all a renter should always seek legal advice in this situation because laws are different depending on state and county laws. I have noticed that some banks and lending institutions will give renters relocation assistance in the form of money in a check to move out by a certain date usually less than 30 days.
Some renters I have spoken with have said that the landlord or owner of the home, condo or multi-unit property didn’t say anything to them about the property being foreclosed on. Renters are shocked to find out that the owners were collecting rent at the same time they weren’t making house payments. Property owners know well in advance that the bank is foreclosing on them and should ethically tell the renters what’s going on. Most of the time the renters will lose their deposits as well when the bank takes the property back and the owner disappears. If a renter is unsure about the home or condo they’re renting being a foreclosure or not they can contact a local Realtor – if in San Diego County contact us and we can tell you if a notice of default has been filed on the home or condo you’re renting.
Please be careful when renting another home or condo and find out before you move in if that property is a pre-foreclosure or foreclosure.
Please use the links below to help you with your San Diego Real Estate Search and Information from your San Diego Realtor.
San Diego Real Estate San Diego MLS
San Diego Relocation San Diego Home Search by Map
San Diego Home Buyers San Diego Home Sellers
San Diego House Values Local Real Estate Information
San Diego Real Estate Blog San Diego Short Sales
San Diego Foreclosures San Diego Green Homes
All information is believed to be correct but not guaranteed.