Turko on rentals and foreclosures

[2009 Buyer]

Last night (8/12) Turko reported on a renter in a foreclosed property – he implied that the new owner (bank) now had to honor the rental agreement as long as the rental agreement predated the NOD. Makes no sense to me. Now I can rent to an aquaintence- favorable rent for ten years, quit payments and the
bank must abide by the ageement?

Comments?

[all]

Since May 2009 the tenant gets until the end of the lease or 90 days, whichever is longer.

There is an exception – if the new owner intends to live in the property the new owner can terminate the lease with 90 day notice.

http://www.nolo.com/legal-encyclopedia/article-30064.html

[all]

Since May 2009 the tenant gets until the end of the lease or 90 days, whichever is longer.

There is an exception – if the new owner intends to live in the property the new owner can terminate the lease with 90 day notice.

http://www.nolo.com/legal-encyclopedia/article-30064.html

[all]

Since May 2009 the tenant gets until the end of the lease or 90 days, whichever is longer.

There is an exception – if the new owner intends to live in the property the new owner can terminate the lease with 90 day notice.

http://www.nolo.com/legal-encyclopedia/article-30064.html

[all]

Since May 2009 the tenant gets until the end of the lease or 90 days, whichever is longer.

There is an exception – if the new owner intends to live in the property the new owner can terminate the lease with 90 day notice.

http://www.nolo.com/legal-encyclopedia/article-30064.html

[all]

Since May 2009 the tenant gets until the end of the lease or 90 days, whichever is longer.

There is an exception – if the new owner intends to live in the property the new owner can terminate the lease with 90 day notice.

http://www.nolo.com/legal-encyclopedia/article-30064.html

[2009 Buyer]

this creates an opporunity for those willing to take risk:

before I get the NOD, I rent my property out for half of the going rate for ten years.

The bank is then stuck with a very unfavorable rental agreemnet which it cannot sell.

Unless they find a buyer willing to make the home a primary residence,

The real benefit is to the renter.

[2009 Buyer]

this creates an opporunity for those willing to take risk:

before I get the NOD, I rent my property out for half of the going rate for ten years.

The bank is then stuck with a very unfavorable rental agreemnet which it cannot sell.

Unless they find a buyer willing to make the home a primary residence,

The real benefit is to the renter.

[2009 Buyer]

this creates an opporunity for those willing to take risk:

before I get the NOD, I rent my property out for half of the going rate for ten years.

The bank is then stuck with a very unfavorable rental agreemnet which it cannot sell.

Unless they find a buyer willing to make the home a primary residence,

The real benefit is to the renter.

[2009 Buyer]

this creates an opporunity for those willing to take risk:

before I get the NOD, I rent my property out for half of the going rate for ten years.

The bank is then stuck with a very unfavorable rental agreemnet which it cannot sell.

Unless they find a buyer willing to make the home a primary residence,

The real benefit is to the renter.

[2009 Buyer]

this creates an opporunity for those willing to take risk:

before I get the NOD, I rent my property out for half of the going rate for ten years.

The bank is then stuck with a very unfavorable rental agreemnet which it cannot sell.

Unless they find a buyer willing to make the home a primary residence,

The real benefit is to the renter.

[scaredyclassic]

If my landlord is defaulting can I offer him cash for a great lease?

[scaredyclassic]

If my landlord is defaulting can I offer him cash for a great lease?

[scaredyclassic]

If my landlord is defaulting can I offer him cash for a great lease?

[scaredyclassic]

If my landlord is defaulting can I offer him cash for a great lease?

[Author]

Posts