Renting - NOD filed

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Submitted by djc on January 28, 2009 - 11:25pm

So, I noticed some mail showing up at the house about "helping homeowners", etc., etc, along with a note in my mailbox (which I check once every never :) ) from the Post Office about some certified mail waiting at the Post Office for the landlord. I dig up the link for public record lookups (Thanks TG!) and not surprisingly, a NOD was filed on 12/12 in the landlord's name and I assume it is my residence.

My question to those in the know, how long do I have before I should expect to move? I know a NOD does not guarantee the house will go to trustee sale and/or go back to the back, but I suspect it will.

Thanks!

Submitted by gn on January 29, 2009 - 4:28pm.

Usually, the lender sends out a NOD 3 months after the owner missed a payment. And 3 months after that, the NOT (notice of trustee sale) is filed, and then the court house auction is scheduled about a month later.

So, you are looking at 4/1009 for the house to be foreclosed. Now aday with lenders inundated with foreclosures, they may take longer to foreclose.

Submitted by DWCAP on January 29, 2009 - 5:46pm.

Call the LL, tell them you noticed that mixed in with your mail was some stuff about help for homeowners, and is everything ok. Hopefully they will be straight with you about it and then you can know what the plans are. If not then be prepared to move quick and plan on ending your lease as soon as it is up.
Give them a chance to come clean and do the right thing. Maybe they have a plan or something else you should know that they wont share unless asked.

Submitted by LAAFTERHOURS on January 29, 2009 - 6:35pm.

Can you provide that link to me - public record link?

Submitted by patb on January 29, 2009 - 7:28pm.

stop paying rent right now.

If you want to be honest, escrow the payment.

You are going to get a sherriff someday soon and you need to
be ready to drop cash on the new place, and pay movers at the short notice

Submitted by djc on January 30, 2009 - 12:33am.

Thanks everyone for your replies.

gn - That's about what I figured too. I do remember reading something recently about some legislature for renters in this situation, however I don't recall if it ever went through, let alone if it was for CA.

DWCAP - That's exactly what I plan to do when I pay the rent (I drop it off usually).

patb - My understanding is that my contract with the LL is independent of their ability to pay the mortgage. Until they are no longer the owners, I am liable and can be sued for non payment, court costs, etc. Please correct me if I am wrong.

Additionally, how does one go about doing the escrow option?

Submitted by DWCAP on January 30, 2009 - 11:11am.

djc wrote:
Thanks everyone for your replies.

gn - That's about what I figured too. I do remember reading something recently about some legislature for renters in this situation, however I don't recall if it ever went through, let alone if it was for CA.

DWCAP - That's exactly what I plan to do when I pay the rent (I drop it off usually).

patb - My understanding is that my contract with the LL is independent of their ability to pay the mortgage. Until they are no longer the owners, I am liable and can be sued for non payment, court costs, etc. Please correct me if I am wrong.

Additionally, how does one go about doing the escrow option?

I usually feel the "you are arnt paying your morgage so I wont pay my rent" thing is some sort of Morality issue. As far as I know, you owe rent to the LL until he no longer owns it or you move out at your contract end date. If he looses it while you are renting, then it sucks to be you. Take him to small claims court.

Most likly the guy will be honest with you if you are honest with him. Especially if you already know. Most people are not the aholes we credit them with being.

If I am wrong, please let me be the first to say I am sorry for your hassel. Just be glad it isnt you loseing the house. :)

I have no idea about the escrow option, that is something you would have to work out with the LL.

Submitted by FormerSanDiegan on January 30, 2009 - 11:23am.

Aside from any possible moral issues ... legally you are required to pay your rent. If he receives rent and does not use it to pay mortgage he may be in violation of rent-skimming laws.

I would only cease making payment if I was very near the end of my lease, so as to minimize any potential negative ramification of breaking my lease.

The owner may be in NOD status as a strategy to work out a short sale, or a work out. Properties often times receive NODs, then are brought back to date and then receive another NOD down the road. I would not expect to be in imminent danger of being evicted as a result of foreclosure in April.

When does your lease end ?

Submitted by 23109VC on January 30, 2009 - 3:39pm.

you're crazy. stop paying the LL.

what - you think he's going to "sue" you???? tell him to PLEEEEEEEEEEEEEEEEEEEEEEEEEEEEEASE sue you. I'd get the records showing he is in default, not paying the mortgage, that YOU are going to be forced to move unexpectedly - then when he sues you (which I doubt he would) you take it all to court. before you get there, file your own countersuit agianst him for all your unexpected moving costs. unless you are living in some mansion, this will likely be in small claims anyway... so get estimates for a move, with a moving company, storage of stuff you can't fit into a new house, rack up as much "cost" as you can..so when you present your case to the judge, and explain that you idiot LL is ripping YOU off by pocketing your RENT - so that you are going to have to MOVE and get KICKED out o the house before your lease is up - you can have your own set of "costs" to offset any rent he is "owed".

if you are really close to the end of hte lease - maybe the amount you would "owe" him is so small he wouldn't waste the time to sue you..

suing is not free. unless you are in some $10,000 month place and it's big dollars - it's more hassle to sue you than to just eat it.

call the LL and figure out what's going on.

THIS IS NOT LEGAL ADVICE.

Submitted by traderdad on February 18, 2009 - 9:11pm.

My LL just went NOD on his loan last week. Does anyone have any new ideas of what I should do? I heard from a broker friend that when banks actually foreclose they may work out a low rent deal just to keep someone in the house. Has anyone else heard of this happening? BTW I am currently month to month, my lease expired about 18 months ago.

Thanks!

Submitted by The OC Scam on February 18, 2009 - 10:35pm.

When the banks sends a real estate agent to your door offering you money in return for the house keys.
Ask the real estate agent to ask the bank to provide proof that they actually own the house. Most banks have loss or thrown away records. This should give you another 8 months rent free or a larger counter offer "cash for keys"!

This is not legal advice but unethical persuasion. I love this country. Everyday it just keeps getting better!

Submitted by traderdad on February 19, 2009 - 8:06am.

Thanks OC for that reply.

DJC, what did you end up doing with your situation?

Thanks!

Submitted by Sandiagon on February 19, 2009 - 11:25am.

The OC Scam wrote:
When the banks sends a real estate agent to your door offering you money in return for the house keys.
Ask the real estate agent to ask the bank to provide proof that they actually own the house. Most banks have loss or thrown away records. This should give you another 8 months rent free or a larger counter offer "cash for keys"!

This is not legal advice but unethical persuasion. I love this country. Everyday it just keeps getting better!


"Ask the real estate agent to ask the bank to provide proof that they actually own the house." This approach will not work for renters. This approach will not work for many home owners unless their profession is relating to law. Banks can prove pretty easily that owner owe the money. They do not need original signed papers to prove. Basically bank or lender will get eviction notice from court by submitting documents that you defaulted on loan you borrowed. You can appeal eviction notice, but it involves an attorney and needs lot of money.

You can get some info from this website.
http://www.tenantslegalcenter.com/html/f...

"TENANT'S RIGHTS AGAINST FORMER LANDLORD
Be sure to tell the former Landlord/owner that you expect the refund of your security deposit, less any rent you may still owe them. If you were forced out during a lease, you may have a valuable claim for the landlord's breach of that lease along with fraud if they intended to lose the property but concealed that from you when you signed the lease."

Submitted by traderdad on February 19, 2009 - 7:48pm.

Sandiagon,

Thank you for making me aware of the tenant rights....it appears I may have and extra 60 days to vacate since the new tenant foreclosure law passed earlier this year.

So far my first step should be to contact my LL and get the story from him, hopefully he will be honest and straight forward with his plans. Also, see if there is any chance for me to get back my deposit which is equal to 1.5 months rent( I doubt it but it won't hurt to ask).

Thanks for all the replies, if anyone else has any ideas this pigg is all ears ;).

Submitted by patb on February 19, 2009 - 11:00pm.

djc wrote:
Thanks everyone for your replies.

patb - My understanding is that my contract with the LL is independent of their ability to pay the mortgage. Until they are no longer the owners, I am liable and can be sued for non payment, court costs, etc. Please correct me if I am wrong.

Additionally, how does one go about doing the escrow option?

Dude

A man being sued into foreclosure has no ability to Sue you.
he isn't paying the mortgage, you don't pay the rent, think of it
as the coprophagic circle of life.

when he fucks you out of your deposit, what are you going to
do? sue a bankrupt loser who just lost his house?

and an escrow?
just call your bank tell them you want to set up an escrow

Submitted by nin_sis on February 19, 2009 - 11:13pm.

This happened to us recently. We were getting the same kind of junk mail and had our agent look up the owner's info. He defaulted and almost 4 months later we found a notice of trustee sale posted on our door. I stopped paying rent to the owner on the 2nd month of the default notice prior to foreclosure just to see if he would respond to my numerous previous emails. He didn't. The house went back to the bank and we received a 60 day evicition notice. You can try to get more time by contacting the agent for the foreclosure. They are more afraid that you will stay longer than the 60 days because then they have to start official eviction proceedings and take you court which could keep you in the house for up to 120 days. In most cases they won't negotiate rent to keep you there. The bank wants the property vacant asap because they know they can sell it easier. PS, good luck trying to get any deposit back unless you take the previous owner to small claims.

Submitted by djc on February 21, 2009 - 5:02am.

Still here. I used foreclosure radar and determined the NOD wasn't on the house I live in, but the LL's. Not sure how this will play out for me, however I'm keeping an eye on the situation.

Good luck with yours.

Submitted by mwtosd on February 21, 2009 - 11:24am.

I have not read this blog yet, but may be helpful for people in this situation. I book marked it for later reading.

http://tenantsforeclosure.blogspot.com/

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