Renting – NOD filed

[DWCAP]

[quote=djc]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?[/quote]

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.

[(former)FormerSanDiegan]

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 ?

[(former)FormerSanDiegan]

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 ?

[(former)FormerSanDiegan]

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 ?

[(former)FormerSanDiegan]

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 ?

[(former)FormerSanDiegan]

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 ?

[23109VC]

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.

[23109VC]

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.

[23109VC]

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.

[23109VC]

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.

[23109VC]

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.

[Anonymous]

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!

[Anonymous]

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!

[Anonymous]

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!

[Anonymous]

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!

[Author]

Posts