[Muggy]

The nonsense continues:

State: Renters, too, face mortgage fallout

[kort677]

Originally Posted by Muggy

The nonsense continues:

State: Renters, too, face mortgage fallout

it's a terrible thing, these people are a victim of an owner that commited fraud, but it highlights another reason why you should always try to own where you live

[Prichard]

Good read! Renters do need to beware, and there is a way for them to protect themselves. Renters can get tossed out in a Foreclosure when the property is sold at auction. Most banks can't let renters stay there, so you won't be able to work a deal with them, for the most part.

If you are a potential renter, first, just do a name search on the county courthouse records to see if a foreclosure suit has been filed against the owner. Second, you can check the public records to see if a "lis pendens" has been recorded on the property. Third, when the Landlord asks you for a credit check, ask him for a credit check as well. If the Landlord doesn't care enough to check your credit, this aught to be a red flag.

Nothing will protect a renter from a Landlord that defaults on his mortgage some time after the tenant moves in and starts paying his rent. Basically, if that happens, the tenant will have about 2 months to figure out where to go.

[Audacious]

I have many rentals in Sarasota and have seen this happen over and over again. One couple who was renting from me walked out of the lease saying that they could get a bigger newer house for the same money. I asked them where and then told them about the problems with well water and septic systems that are within 50 yds of other wells and septic systems as well as the real possibility of being asked to leave due to forclosure or sale.

It happened, 2 mos later they called me asking for their old home back, I had already rented it. In the course of conversation they also mentioned how horrible it was to take a shower because the water smelled so bad. As a poster mentioned, check public records. They will tell you who the owner is and how long they have owned the house. If the landlord has owned the property for 4 or 5 years or more, then it would be safe to say that you should be OK.

[oceandreams94]

This is a good read. I have been trying to check public records for the house that I will be renting in Flagler county but cant come up with anything.
If I called the tax apprasiers office there, would they tell me the information?

Jen

[macguy]

Originally Posted by oceandreams94

This is a good read. I have been trying to check public records for the house that I will be renting in Flagler county but cant come up with anything.
If I called the tax apprasiers office there, would they tell me the information?

Jen

You should be able to go here and find the information.FL Dept Rev - Flagler County Property Appraiser

Anything the tax apprasiers office could tell you you can find yourself.

[oceandreams94]

Originally Posted by macguy

You should be able to go here and find the information.FL Dept Rev - Flagler County Property Appraiser

Anything the tax apprasiers office could tell you you can find yourself.

Thanks macguy, for that link. I found the house and looked up the owner.

Jen

[JimKing]

Sure, renters should do a little due diligence before signing a lease.

But the risks are still much, much less than buying a house in this over priced market, having a major life changing event that forces you to sell and leave in less than 5 years, and getting hammered financially trying to sell.

Rent, rent, rent.....check out the landlord first....but rent, rent, rent.....unless you get an absolute steal (40-50% off) on a house....rent, rent, rent.