Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Mandy asks…

Landlord Recourse – Signed Lease No Payment?

I have a rental home that is nothing but a headache — but that’s neither here nor there.

In mid September I had a family look at the house, verbally tell me they wanted it — Husband said “take that sign down, you have my word.”

Two days later I hand deliver the lease to their place of work. They return it completed and signed. I countersign and get their copy back to them. Several conversations took place throughout September, but they never followed through to get me the deposit. Then October 1 arrives and I inform them via phone their rent and the deposit is due. This is when the wife springs it on me that she has a medical problem, but they still want the house. She can’t leave the house, the husband is working overtime and that’s why they haven’t brought the deposit by. More than once she says they still want the house.

After another week goes by, I start leaving them a message approximately every other day. I also send emails. Approximately once a week they will answer the phone, and only once returned my call, but that was an accident since I didn’t leave a voice mail and they wanted to know who called their cell. Each time I get someone on the phone, I get the health story, but then they have another incoming call, or say their battery is dying, and they just hang up.

I know they have to be out of their current house at the end of October.

During this entire time I kept the house listed.

Yesterday, I get them on the phone again, and they inform me that they told me via email on September 30 that they can’t take the house (after they’ve told me on the phone at least 3 times after October 1 they want it). I never received the email. They did forward it to me today, it was an email written by the husband, sent to the wife, never sent to me until today.

Now their story is they were able to work out something with the mortgage company — the home they are in is in foreclosure and the mortgage company now will be the landlord.

I’m not a big company, just someone that let a real estate agent present him w/ a deal that included a lease-to-own tenant. When that tenant failed to buy the house at the end of the lease-to-own deal, I now have a home I need to rent out. I’ve had 4 tenants in that house over three years. Two of them have moved prior to the lease ending.

I’m tired of giving people the benefit of the doubt and these people LIED to me several times.

Is it a waste of time to sue them in small claims court? They live locally and I have their current address. Can I sue them for 1 months rent and late fees? What about the unpaid security deposit?

Thanks in advance for your reply.

Lease is written in TX using the Texas Realtors Association standard lease.

I own 5 rental properties total, this seems to be my only headache property.

This is a 3500 SF home being leased for $1595 / mo.
I just want to know if I take them to small claims court, is the fact they didn’t give me any money going to make my suit meaningless.

I know business shouldn’t get personal, but in this case it is personal since they LIED on multiple occasions, and I didn’t say this originally, but the played the “religion” card when I first met them.

Your Questions About Foreclosures

The Expert answers:

Well first I would like to say I have been a regional manager for a real estate company for the past 20 years. In addition every state and county have there own local laws that need to be followed. They also have what they call a Landlord Tenant Association that you can list a complaint and they will tell you based on the current laws what you can do to re-coupe any loses.

It does sound to me that you are not checking these people out property prior to approving them for tenancy in your rental property.

If you require an application charge a fee not to exceed your county/state law.

Require a holding deposit not to exceed the 1st months rent. After they move in you can apply the holding fee to Rent or Security Deposit.

Do a credit check as well as reference and rental history prior to approving your candidate.

You will need to send them a letter approving or rejecting the applicant.

Once approved if they do not move in your holding fee will help cover any lose you may have.

Your Questions About Foreclosures

Ruth asks…

Made an offer on countrywide owned home, addendum says I waive the right to avoid sale due to condition, etc..?

One part says I waive my right to avoid the sale of the home. Another part says I should get a home inspection done within 10 days and then have 5 days after showing to seller to revoke contract if I don’t like it. I received this today (saturday) and the seller (countrywide) says I have to sign and return by Monday – the first business day I could possibly get a home inspection when the utilities won’t even be turned on…. HELP! Does this addendum say what I think it says? btw, my financing was accepted as FHA

Copy of addendum:
BUYER (Initials)________________ – 1 –
SELLER (Initials)_______________
Revised 3/06
REO #____________________
Countrywide Home Loans, Inc.
REAL ESTATE PURCHASE ADDENDUM
This Real Estate Purchase Addendum (“Addendum”) is to be made part of, and incorporated into, the Real Estate Purchase
Contract dated ___________________________ (“Contract”) between
(“Seller” and the term “Seller” shall also include Countrywide Home Loans, Inc.) and
(“Buyer”) for the property and
improvements located at the following address:
(“Property”). Buyer and Seller may each be referred to herein as a “Party” and collectively as the “Parties.”
The Contract and this Addendum together constitute the “Agreement”.
The Seller and the Buyer agree as follows:
1. LIMITATION OF SELLER’S LIABILITY AND BUYER’S WAIVER OF IMPORTANT RIGHTS:
BUYER UNDERSTANDS AND ACKNOWLEDGES THAT SELLER HAS ACQUIRED THE PROPERTY
THROUGH FORECLOSURE, DEED-IN-LIEU OF FORECLOSURE, OR SIMILAR PROCESS, SELLER
HAS NEVER OCCUPIED THE PROPERTY, AND SELLER HAS LITTLE OR NO DIRECT KNOWLEDGE
ABOUT THE CONDITION OF THE PROPERTY. BUYER AGREES THAT BUYER IS BUYING THE
PROPERTY “AS IS” (AS MORE FULLY SET FORTH IN SECTION 13 OF THIS ADDENDUM).
NOTWITHSTANDING ANY PROVISION TO THE CONTRARY IN THE AGREEMENT, SELLER’S
LIABILITY AND BUYER’S SOLE AND EXCLUSIVE REMEDY IN ALL CIRCUMSTANCES AND FOR
ALL CLAIMS (AS THE TERM IS DEFINED IN SECTION 26 OF THIS ADDENDUM, AND ALL
REFERENCES IN THIS ADDENDUM TO “CLAIMS,” “CLAIM,” “Claims,” or “Claim” SHALL HAVE
SUCH MEANING) ARISING OUT OF OR RELATING IN ANY WAY TO THE AGREEMENT OR THE
SALE OF THE PROPERTY TO BUYER INCLUDING, BUT NOT LIMITED TO, SELLER’S BREACH OR
TERMINATION OF THE AGREEMENT, THE CONDITION OF THE PROPERTY, SELLER’S TITLE TO
THE PROPERTY, THE OCCUPANCY STATUS OF THE PROPERTY, THE SIZE, SQUARE FOOTAGE,
BOUNDARIES, OR LOCATION OF THE PROPERTY, ANY COST OR EXPENSE INCURRED BY
BUYER IN SELLING A CURRENT OR PRIOR RESIDENCE OR TERMINATING A LEASE ON A
CURRENT OR PRIOR RESIDENCE, OBTAINING OTHER LIVING ACCOMMODATIONS, MOVING,
STORAGE OR RELOCATION EXPENSES, OR ANY OTHER COSTS OR EXPENSES INCURRED BY
BUYER IN CONNECTION WITH THE AGREEMENT SHALL BE LIMITED TO NO MORE THAN:
(A) A RETURN OF BUYER’S EARNEST MONEY DEPOSIT IF THE SALE TO BUYER DOES NOT
CLOSE; AND
(B) THE LESSER OF BUYER’S ACTUAL DAMAGES OR $5,000.00 IF THE SALE TO BUYER CLOSES.
BUYER SHALL NOT BE ENTITLED TO A RETURN OF BUYER’S EARNEST MONEY DEPOSIT IF
BUYER MATERIALLY BREACHES THE AGREEMENT.
BUYER AGREES THAT SELLER SHALL NOT BE LIABLE TO BUYER UNDER ANY
CIRCUMSTANCES FOR ANY SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES
WHATSOEVER, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE AND STRICT
LIABILITY), OR ANY OTHER LEGAL OR EQUITABLE PRINCIPLE, THEORY, OR CAUSE OF
BUYER (Initials)________________ – 2 –
SELLER (Initials)_______________
Revised 3/06
ACTION ARISING OUT OF OR RELATED IN ANY WAY TO ANY CLAIM, INCLUDING, BUT NOT
LIMITED TO, THE AFOREMENTIONED CLAIMS.
ANY REFERENCE TO A RETURN OF THE BUYER’S EARNEST MONEY DEPOSIT CONTAINED IN
THE AGREEMENT SHALL MEAN A RETURN OF THE EARNEST MONEY DEPOSIT, LESS ANY
ESCROW CANCELLATION FEES APPLICABLE TO THE BUYER UNDER THE AGREEMENT AND
LESS FEES AND COSTS PAYABLE FOR SERVICES AND PRODUCTS PROVIDED DURING ESCROW
AT THE BUYER’S REQUEST. TO THE FULLEST EXTENT PERMITTED BY LAW THE BUYER
WAIVES ANY CLAIMS THAT THE PROPERTY IS UNIQUE AND THE BUYER ACKNOWLEDGES
THAT A RETURN OF ITS EARNEST MONEY DEPOSIT CAN ADEQUATELY AND FAIRLY
COMPENSATE THE BUYER FOR ALL CLAIMS. UPON RETURN OF THE EARNEST MONEY
DEPOSIT TO THE BUYER, THE AGREEMENT SHALL BE TERMINATED, AND THE BUYER AND
THE SELLER SHALL HAVE NO FURTHER LIABILITY, OBLIGATION, OR RESPONSIBILITY TO
EACH OTHER IN CONNECTION WITH THE AGREEMENT. IF THE SALE TO BUYER CLOSES AND
SELLER COMPENSATES BUYER AS PROVIDED ABOVE FOR BUYER’S ACTUAL DAMAGES, IF
ANY, THEN THE BUYER AND THE SELLER SHALL HAVE NO FURTHER LIABILITY,
OBLIGATION, OR RESPONSIBILITY TO EACH OTHER IN CONNECTION WITH THE
AGREEMENT.
SELLER’S LIMITATION OF LIABILITY AND BUYER’S WAIVERS PROVIDED IN THE AGREEMENT
ARE A MATERIAL PART OF THE CONSIDERATION TO BE RECEIVED BY THE SELLER UNDER
THE AGREEMENT AS NEGOTIATED AND AGREED TO BY THE BUYER AND THE SELLER.
THE BUYER FURTHER WAIVES THE FOLLOWING, TO THE FULLEST EXTENT PERMITTED BY
LAW:
(A) ALL RIGHTS TO FILE AND MAINTAIN AN ACTION AGAINST THE SELLER FOR SPECIFIC
PERFORMANCE;
(B) RIGHT TO
Looks just like this: http://www.placercountyhomesandland.net/files/countrywide_real_estate_purchase_addendum.pdf

This is a generic copy I found, but it is the same exact one I was given. We are getting FHA loan and they accepted our offer on the house… and then sent the addendum. On one part it says we waive the right to stop sell of property due to condition, structure, etc. On another it says we have 10 days to get inspection? Does this mean we can’t get out of contract even if the inspection turns out bad? I just got this paper today (saturday) and they said they have the have it back by Monday – the first day I could possibly get an inspection done when the utilities won’t even be turned on yet. WHAT TO DO?

Your Questions About Foreclosures

The Expert answers:

Definitely get your real estate agent involved – there is conflicting info in here. It’s basically saying if you want the property, you’ll take it as-is and they have no intention of fixing anything that is broken, etc. I don’t know why they’d want it back by Monday if you haven’t even gotten an inspection yet – it seems odd. BTW – FHA may not approve the loan if the condition is poor – they REQUIRE certain things be fixed before closing, so you need to be sure there’s nothing major wrong before giving up any deposit money for this place when you back out, or you need to be prepared to fix it out of pocket prior to close. If you don’t have a real estate agent, GET ONE to help you out here.

Your Questions About Foreclosures

James asks…

mistake on deed of trust?

We have been challenging the bank on a foreclosure. The bank is ignoring the fact that the deed of trust and the promissory note go hand in hand and are trying to show intrest by the deed of trust only. They do not have the promissory note. Regardless, upon my own investigation, the bank has the wrong APN (Treasury Parcel Number) recorded incorrectly on ALL the escrow documents. Sure, they list the correct property address the parcel number they attached shows another home. Wouldn’t this void the whole contract?

Your Questions About Foreclosures

The Expert answers:

It is usually the title company insuring title to the transaction that prepares the note and deed of trust, based on the information provided by the lender. I have never seen a deed of trust that actually showed the interest rate, because that’s properly indicated on the promissory note. Title is conveyed by the legal description which trumps either the street address or the APN. So the wrong parcel number will not void the document, it simply makes it tougher for the taxing agency to keep their records up to date. If the legal description on the deed of trust is incorrect, then the title insurance company is on the hook for the loss.

You are correct though that the lender must produce the original note, not a copy, if you challenge the foreclosure in court. The promissory note is the only document that shows your promise to pay, the deed of trust is merely the security instrument. Many foreclosures have been held up in court, until the bank or lender produced that document that may have been mislaid.

Your Questions About Foreclosures

Mary asks…

Long story but need some help?

We signed a 6 month lease with our landlord in March of 2008 paying $900 a month. We were never able to renew it with our landlords because they were always “busy” when I tried to schedule a meeting with them. In october of 2008 they said that they had “a stroke of good luck” and dropped our rent by $400. They took our deposit and put $500 toward the month of November and $400 toward the month of december and we continued to pay $500 a month until the end of May. We came home on May 24th to find an eviction notice on our door with a different address so we took it out to our landlord and they called us on the 25th and said it was for our address and that we had to be out by the 26th of May (2 days after the notice was on our door) When I finally got the truth out of my landlord I found out that the bank had foreclosed on the home (I have not gotten the exact date of the foreclosure yet) because they could not pay their mortgage any longer. When I spoke with the Bank’s attorney she said that they had a hearing on the 19th of April that my landlord was informed about and that is when she was notified that we were to vacate the premises. My Landlord had neglected to share this bit of information with us until the day before we were to be out. We continued to pay them rent until we received the eviction notice (so we paid them for the month of May). Is their anyway that we could legally go about getting our money back or is this a lost case? Any answers would be helpful.

Your Questions About Foreclosures

The Expert answers:

No you can not get your money back but you had better find housing or the sheriff will show up to evict you. This is happening soooo often right now, sorry but the LL is entitled to the rents until the house sold and even possibly through a redemption period allowed by your state.

Your Questions About Foreclosures

William asks…

Can anyone help me find the property owner if this house?

The address: 3306 Lagoon Ave Atwater,CA 95301 (Merced County)
The problem: We JUST moved in on the 1st of August. We were told that the owner is trying to ‘save’ his house, that it wasn’t in foreclosure, he was still making payments. Well, since day one, the neighbors have been coming by telling us that the house is for sale, it’s the bank’s, it’s in foreclosure, this and that. So, today I went down to the county recorder’s office to check the owner, and it matched was was told to me (the lady that rented the home out to us isnt the owner, but is related to him). Then we were sent to the tax collector (or somesort) to make sure that they’ve been paying their taxes on the house, and they told us that they have been. Then they sent us somewhere else where they checked if the owner has been making his payments, and everything came out positive. But, I’m worried because I tried to look up the address online, to see if it was in foreclosure or for sale, ANYTHING, but nothing comes up. I called the landlord, but it goes straight to voicemail. I’ve also left a message for tenants together. I dont know where else to check. Some of the people that came by to “warn us” about the landlord cheating us out of our money told us that the owner hasnt been paying for over a year and that it is online on the foreclosure list. I don’t know what to do anymore. We haven’t even finished moving out of our previous home yet and it loooks like we’re going to have to move out already. We paid first and last month’s rent, signed a contract, but I’m afraid of getting kicked out without enough time. I don’t know where to look anymore or what to do. I don’t know what to believe, if anyone out there can help, I’d really appreciate it!

Thanks

Your Questions About Foreclosures

The Expert answers:

These records are all public, I don’t know the other poster said they weren’t.

A foreclose was filed 05/25/2010. It was scheduled to auction in June, but I do not think it happened. You can find out by calling, this will be automated (most likely), but it is perfectly OK to call, it is public information. To find the status call (800) 281-8219 . You will need the trustee sale number, which is 10-0004578. I would call myself, but this way you can call again and get updates. Auctions can be postponed for months, they will to it one month at a time. The original one was 06/15/2010 at 3 pm, but like I said, I do not think it happened, nothing recorded.

The owners, also all public record that I found online are:

Jerry and Martha Duncun
553 Gettysburg Dr
San Jose CA

You aren’t being cheated out of any money. As long as Jerry and Martha still own the place, and they do according to the records, they are legally allowed to rent it out.

But call that number, it is a computer, it will tell you exactly what is happening.

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Your Questions About Foreclosures
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Your Questions About Foreclosures

Your Questions About Foreclosures