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Old 01-17-2010, 07:03 PM
 
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Can anyone tell me what Texas law is re: these items? I'm wary to rent a house with all the foreclosures out there.

Is there any way to determine whether the house you are about to rent is about to be foreclosed on? From what I see, it looks like there is a national law that states you must be given 90 days to move, if you hold a lease.

What about selling? Can an owner sell a house and make you move during the middle of the lease or does he have to wait for your lease to expire? I'd prefer to rent a house over an apartment but am concerned that it is too risky right now.

Thoughts?
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Old 01-17-2010, 07:21 PM
 
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not that risky here...maybe other places but you have to be given time and you will be notified. Just use a good Realtor. You can tell neighborhoods with high foreclosures. Well kept areas do not have problems
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Old 01-17-2010, 08:03 PM
 
Location: The Greater Houston Metro Area
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Quote:
Originally Posted by leharper View Post
Can anyone tell me what Texas law is re: these items? I'm wary to rent a house with all the foreclosures out there.

Is there any way to determine whether the house you are about to rent is about to be foreclosed on? From what I see, it looks like there is a national law that states you must be given 90 days to move, if you hold a lease.

What about selling? Can an owner sell a house and make you move during the middle of the lease or does he have to wait for your lease to expire? I'd prefer to rent a house over an apartment but am concerned that it is too risky right now.
About May they passed a bill to protect the renter. The law requires that tenants who pay their rent on time can remain in their home until the end of their lease, unless the bank sells the property to someone who intends to make it his own residence. Even without a lease, renters must be allowed to stay in their home for 90 days after the foreclosure. The provision is scheduled to expire at the end of 2012.

As to an owner selling the house, the lease stands. On a short sale, I think the new owner can end the lease but must give a minimum of 30 days notice to the tenant.

You will know something is wrong on a upcoming foreclosure - the foreclosure notices usually go to the house.

A low risk thing to do is to make sure the owner of the house has had it for some time. They are experienced landlords (as opposed to someone who wants to try it and then finds out they don't like it) and usually have enough equity in the house to the extent that they would be foolish to let it foreclose.
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Old 01-18-2010, 06:16 AM
 
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It's not a guarantee that there won't be a foreclosure, but you definitely want to check for delinquent taxes. I would stay away at all costs, if the property taxes aren't being paid. If they are having problems paying the property taxes, they may not be paying the mortgage.

Do a search for the address on the Harris County Appraisal District website and click on "View" under "Online Tax Bill".

Harris County Appraisal District
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