Paycheck Chronicles

Get Legal Advice In A Landlord Foreclosure

Moving around all the time is hard enough, but it is a huge bummer when you discover that the house you're renting is in foreclosure. It's confusing, and worrisome, and the tenant rarely knows what is going on. If you get wind that your rented house is in foreclosure, what should you do? There are a lot of choices, including going to the base legal offices and reading your state's landlord-tenant laws. Better yet, contact the housing advocacy group in the area of the property. But the single best option, and the one you should consider, is spending a few dollars to check with a local area real estate attorney. The process for foreclosure, and how it will impact a tenant, is very state-specific, and there can be small details that impact the tenant in big ways. While research can give you information, and the base legal office may have some ideas, a local area real estate lawyer who works with foreclosures should be able to give you all the nitty-gritty details, including your rights and a likely timeline for the foreclosure process. It is annoying that you should have to spend your own money for a legal consultant for a problem caused by your landlord, but it a good investment. It will definitely decrease your stress level, and it might save you money by pointing you in the best direction for your actions. It might even mean that you don't have to move, and that would be the ultimate stress-reducer and budget-saver. Don't forget that the Department of Defense has authorized short-distance household goods moves when a landlord is foreclosed upon. If you have to move, it is a blessing to have logistical and financial help with the actual move. I hope that none of you ever find yourself in this situation. But if you do, be sure you have the best information available.

Show Full Article

Related Topics

PayCheck Chronicles

More from Paycheck Chronicles

View more

Most Recent Education Articles