Renters beware – or prepare. How many renters out there have been forced out of their home, often not long after moving in, because the home gets foreclosed on? I’m hearing a lot of these stories. The Sacramento Bee had an article on it today. So, we know its happening, what can you do about it?
Forewarned is an opportunity to get forearmed. Renters, here are some steps you can take to minimize the risk of foreclosure knocking on your door. This is a quick list, and I’ll elaborate if needed if there is enough interest.
BEFORE YOU RENT
1. Ask the landlord if all loans and liens are current.
2. Check with the County Records office if a Notice of Default (NOD) or (NTS) has been recorded.
3. Check whether house is for sale.
4. Ask for proof that loans and liens are current.
5. Check the Public Notices section of your local newspaper(s) for NOD and NTS publishings.
IF YOU’RE ALREADY RENTING
1. Do 1-5 above.
2. Pay attention to notices on your door.
3. Pay attention to your mail.
4. Pay attention if your house suddenly seems to be getting a lot of attention (looky-loos).
