Moving to SW FL-Cape Coral? Please read. (credit, lawyer)

[rhmcds]

This forum is great! I wish we had it while decisionmaking in March, before moving a thousand miles. Everyone advised us to lease in SWFL as home values continued to drop. I'm glad we did, but there are pitfalls there as well. Loan payment has not been made on our home since before we moved in (we were not advised). House is now in foreclosure and our agent has been no help at any point. While they cannot control the owner's finances, the communication has be very poor (non-existent). Thankfully, three weeks ago we were served (as lessee) a copy of the foreclosure notice (loan is only a few thou short of twice current selling price for same model in area!). I hand delivered, the next day, a copy of notice to agent. Agent advised they would research the situation and communicate to us. After repeated requests, we still have not been updated. I advised that, since I have been laid off since September, I was withholding rent until we knew whether or not those monies would be needed for moving expenses. (According to foreclosure notice we may now be required to move w/o further notice.) I am now threatened with eviction by agent. They had no trouble communicating that. Moral: Research! Ask lots of questions and request written answers up front! If you want specifics, message me. FYI- I vacationed here in 2000 and 2001, enjoying the area very much. It has changed dramatically since then. I am very disappointed. We are strongly considering moving back home. I did lots of homework online and visited the area before moving. Spend as much time here as possible beforehand talking to locals, asking lots of questions. Then you can make careful, well informed and deliberate choices. I hope this helps.

[BeerWolf]

This was just on the Today Show on NBC... This is basically what it said:

Check with the County Clerk's Office and see if the landlord is being foreclosed on. You could refuse to move and get evicted but then it messes up your credit and that's not fare to you so don't do that.

You have the right to negotiate with the lender taking over the property to see if you can continue with the lease. If they say no, then you can ask what can you do for me and help me move out? Ask for money, they may help and say yes.

Check with www.HUD.gov and it will give you all the local laws about being a tenant in your area.

Ask if you can stay 3 more months if the new landlord is a bank. The last thing a bank wants to do is go to court and have a lengthy eviction suit.

Cash for Keys: Tell them you will move out but what are you going to do for me to make my move that much easier? Will you give me a month's rent?

And of course, if you can afford it, hire a lawyer to be the bad guy.

There is a new bill in the house now that goes into effect in January that will let you keep your lease with the new landlord or have 90 days to move out.

Good Luck!

[rhmcds]

I'll check into your suggestions. I'm sure your post will help others prevent future grief.