[ale] OT: way off topic but help!!!!

[William Witt]

On Thursday, March 24, 2011 10:43:09 AM Scott Castaline wrote:
> Since I believe many of you on the list or at least some rent their
> homes instead of being actual homeowners I am posing this question to
> the list. I will be posing it as a hypothetical question due to certain
> circumstances that I wish not discuss at this time.
> 
> We have found out that the actual homeowner of the house we rent is
> delinquent in mortgage payments and has until April 19, 2011 to settle
> back payments with additional fees or be responsible for the full amount
> of loan, or I presume face foreclosure. Do I need to panic, or am I safe
> since I have already spoken to the property management company? I don't
> want to have Gwinnett SO knocking on my door to dump my stuff on the
> street. _______________________________________________
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Short answer, you'll need a lawyer, but probably not yet.  I was renting a 
house in Miami that was foreclosed on, I am military, was at the end of my 
lease, and was moving out anyway (owner offered to sell it to me as a short 
sale and I saw the writing on the wall), so my situation is different.  

It takes a long time to actually foreclose on a property.  Once the bank 
decides to foreclose, they have to file with the court, then send notice to 
the owner and any tennants.  This is where you need the lawyer, as a tennent 
you will become a defendant to the case.  My advice to you at that point is to 
ether work out a deal with the home owner to use your security deposit as your 
last month's rent or call the bank and try to get them to honor the lease.  In 
the end you do not want to be trying to collect your deposit from the home 
owner when you move out.

In my situation, it took >3 months from paperwork arriving (while we were 
moving out), to the bank taking possesion of the house.

Will