Landlord in Default

[2-stroke triple]

Just learned through the County Assessor site that our landlord received an NOD on the house we rent in Coronado. Saw this coming back in Dec when we started getting envelopes with the landlord’s name taped to the front door. Made contact with Chase, the mortgageholder. Predictably, Chase refuses to answer questions regarding the timing or any other details. Would appreciate any insight on the following:

– Based on an early Feb NOD, when can we expect the NOT to arrive?
– How will we be informed of the NOT and requirement to move?
– What happens then? Do we have 30 days to move?
– Is Chase obligated to pay for our move (or might they offer a lump sum to cover moving expenses with the understanding that we leave the premises in good condition)?
– Might Chase offer to let us stay as long as we pay them rent?
– If the landlord refuses to return the deposit, what recourse do we have (e.g. small claims court)?

I understand that we are obligated to continue paying rent because the lease and mortgage are separate contracts and obligations.

Thanks.

[AK]

You can search for NOD/NOT filings at lpsasap.com — just keep in mind that posted trustee sales get postponed or cancelled frequently for various reasons.

As far as your deposit, tenant rights after foreclosure, etc. … a couple of new state and federal laws have been passed, so you should probably talk to a lawyer.

[AK]

You can search for NOD/NOT filings at lpsasap.com — just keep in mind that posted trustee sales get postponed or cancelled frequently for various reasons.

As far as your deposit, tenant rights after foreclosure, etc. … a couple of new state and federal laws have been passed, so you should probably talk to a lawyer.

[AK]

You can search for NOD/NOT filings at lpsasap.com — just keep in mind that posted trustee sales get postponed or cancelled frequently for various reasons.

As far as your deposit, tenant rights after foreclosure, etc. … a couple of new state and federal laws have been passed, so you should probably talk to a lawyer.

[AK]

You can search for NOD/NOT filings at lpsasap.com — just keep in mind that posted trustee sales get postponed or cancelled frequently for various reasons.

As far as your deposit, tenant rights after foreclosure, etc. … a couple of new state and federal laws have been passed, so you should probably talk to a lawyer.

[AK]

You can search for NOD/NOT filings at lpsasap.com — just keep in mind that posted trustee sales get postponed or cancelled frequently for various reasons.

As far as your deposit, tenant rights after foreclosure, etc. … a couple of new state and federal laws have been passed, so you should probably talk to a lawyer.

[Rockemsock]

This whole process happened to our family last year. The house we were in was foreclosed upon and we ended up going through the entire process.

Federal law states you have 90 days after change of ownership. If your current lease is longer than that, you have good grounds to negotiate with the bank, but from what I hear, it won’t be pleasant.

We negotiated with our LL a reduction of rent and it was his choice to use the Security Deposit in lieu of one of the months of rent. I also negotiated not paying any rent during the month in which the bank takes ownership (auction date)…this was recommended from a tenant attorney, and it worked out well for us (auction date was at the end of the month).

Bank offered us (through their “handlers” working for Prudential RE) 3 months rent to be out in 7 days. Actually, I requested that on the phone with our handler, and he said “the bank will never do that” so I said “that’s fine, we’re in no hurry to move…we’ll stay our 90 days”. He called me back a day later and said they accepted our offer. In hind sight, I wish I had asked for more than 7 days to move out…and I wished I had asked for more than 3 months rent, knowing I’ll have to pay taxes on that check.

Start to finish for us, was NOD filed in January/February…we were moved out by Oct. 5th.

[Rockemsock]

This whole process happened to our family last year. The house we were in was foreclosed upon and we ended up going through the entire process.

Federal law states you have 90 days after change of ownership. If your current lease is longer than that, you have good grounds to negotiate with the bank, but from what I hear, it won’t be pleasant.

We negotiated with our LL a reduction of rent and it was his choice to use the Security Deposit in lieu of one of the months of rent. I also negotiated not paying any rent during the month in which the bank takes ownership (auction date)…this was recommended from a tenant attorney, and it worked out well for us (auction date was at the end of the month).

Bank offered us (through their “handlers” working for Prudential RE) 3 months rent to be out in 7 days. Actually, I requested that on the phone with our handler, and he said “the bank will never do that” so I said “that’s fine, we’re in no hurry to move…we’ll stay our 90 days”. He called me back a day later and said they accepted our offer. In hind sight, I wish I had asked for more than 7 days to move out…and I wished I had asked for more than 3 months rent, knowing I’ll have to pay taxes on that check.

Start to finish for us, was NOD filed in January/February…we were moved out by Oct. 5th.

[Rockemsock]

This whole process happened to our family last year. The house we were in was foreclosed upon and we ended up going through the entire process.

Federal law states you have 90 days after change of ownership. If your current lease is longer than that, you have good grounds to negotiate with the bank, but from what I hear, it won’t be pleasant.

We negotiated with our LL a reduction of rent and it was his choice to use the Security Deposit in lieu of one of the months of rent. I also negotiated not paying any rent during the month in which the bank takes ownership (auction date)…this was recommended from a tenant attorney, and it worked out well for us (auction date was at the end of the month).

Bank offered us (through their “handlers” working for Prudential RE) 3 months rent to be out in 7 days. Actually, I requested that on the phone with our handler, and he said “the bank will never do that” so I said “that’s fine, we’re in no hurry to move…we’ll stay our 90 days”. He called me back a day later and said they accepted our offer. In hind sight, I wish I had asked for more than 7 days to move out…and I wished I had asked for more than 3 months rent, knowing I’ll have to pay taxes on that check.

Start to finish for us, was NOD filed in January/February…we were moved out by Oct. 5th.

[Rockemsock]

This whole process happened to our family last year. The house we were in was foreclosed upon and we ended up going through the entire process.

Federal law states you have 90 days after change of ownership. If your current lease is longer than that, you have good grounds to negotiate with the bank, but from what I hear, it won’t be pleasant.

We negotiated with our LL a reduction of rent and it was his choice to use the Security Deposit in lieu of one of the months of rent. I also negotiated not paying any rent during the month in which the bank takes ownership (auction date)…this was recommended from a tenant attorney, and it worked out well for us (auction date was at the end of the month).

Bank offered us (through their “handlers” working for Prudential RE) 3 months rent to be out in 7 days. Actually, I requested that on the phone with our handler, and he said “the bank will never do that” so I said “that’s fine, we’re in no hurry to move…we’ll stay our 90 days”. He called me back a day later and said they accepted our offer. In hind sight, I wish I had asked for more than 7 days to move out…and I wished I had asked for more than 3 months rent, knowing I’ll have to pay taxes on that check.

Start to finish for us, was NOD filed in January/February…we were moved out by Oct. 5th.

[Rockemsock]

This whole process happened to our family last year. The house we were in was foreclosed upon and we ended up going through the entire process.

Federal law states you have 90 days after change of ownership. If your current lease is longer than that, you have good grounds to negotiate with the bank, but from what I hear, it won’t be pleasant.

We negotiated with our LL a reduction of rent and it was his choice to use the Security Deposit in lieu of one of the months of rent. I also negotiated not paying any rent during the month in which the bank takes ownership (auction date)…this was recommended from a tenant attorney, and it worked out well for us (auction date was at the end of the month).

Bank offered us (through their “handlers” working for Prudential RE) 3 months rent to be out in 7 days. Actually, I requested that on the phone with our handler, and he said “the bank will never do that” so I said “that’s fine, we’re in no hurry to move…we’ll stay our 90 days”. He called me back a day later and said they accepted our offer. In hind sight, I wish I had asked for more than 7 days to move out…and I wished I had asked for more than 3 months rent, knowing I’ll have to pay taxes on that check.

Start to finish for us, was NOD filed in January/February…we were moved out by Oct. 5th.

[2-stroke triple]

Great info, particularly regarding the timing and negotiations with the agencies involved. Thanks much.

[2-stroke triple]

Great info, particularly regarding the timing and negotiations with the agencies involved. Thanks much.

[2-stroke triple]

Great info, particularly regarding the timing and negotiations with the agencies involved. Thanks much.

[2-stroke triple]

Great info, particularly regarding the timing and negotiations with the agencies involved. Thanks much.

[Author]

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