How can a renter evaluate landlord's credit standing?

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earthbm_IHB

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<p>The objective is to make sure that my family won't be kicked out in 3 months due to a foreclosure.</p>

<p>Can we request all mortgage deeds on the house? What about HELOCs?</p>
 
<p>Not necessarily their credit rating, but you can check to see when the house was bought, if they owe any taxes and how much money is owed on the house.... That will INSTANTLY tell you what you need to know.</p>

<p>Example:</p>

<p>They bought the house for 600k and the rent is 1900, uhh, no. Unless they put something like 400k down, then the 1900 won't even cover 50% of the mortgage, let alone the taxes and other fees.</p>

<p>BUT if the house was bought for 250-300k then 1900-2200 might be reasonable and well worth looking at.</p>

<p>-bix</p>

<p> </p>
 
<p>Hmm, on that basis Quail Hill and Turtle Ridge (or any other property built in 2004-06) should never rent...</p>

<p>Where can I see how much money is owed, please? Tried searching but the search words seem too common</p>

<p> </p>
 
<p>Earther</p>

<p> Of course, now you are seeing the the craziness of these communities. Just a general search tax search or MLS listing for house address will probably show you what you need to know. I requires a little bit of reasearch. A yes or no answer does not exist right now....</p>
 
Basically, you don't rent in Quail Hill, Woodbury or Northwood II. Everyone there is underwater and in denial. Eventually they will sell either by force or by choice.
 
<p>Thanks. Is that on the basis that the asking rent is too high or that landlord will likely default? What are the mitigating tactics a renter can use to at least get the deposit back? Stop paying the rent as soon as some stage of foreclosure starts? I remember seeing a thread, but can't find it, all posts on here have words like "tenant landlord rent and foreclosure"!</p>

<p>Is Turtle Ridge in the same category?</p>

<p> </p>

<p> </p>
 
<p>This thread about skimming is close</p>

<p><a href="http://forums.irvinehousingblog.com/discussion/533/">http://forums.irvinehousingblog.com/discussion/533/</a></p>

<p> </p>

<p>Do I really need to get foreclosure radar? </p>

<p>Can I legally stop paying rent at some stage in the foreclosure process?</p>
 
<p>From experience, 10% below asking is the floor. Need the landlords to lower the asking price.</p>

<p>Is IrvineRenter overblowing the issue here? On ForeclosureRadar I see <10 properties in either TR or QH. Out of 100s of homes. </p>
 
The definition of "rent skimming" is found in Calif. Civil Code ?890 et seq. There's no rent skimming issue until the owner has done it on more than 4 properties.



http://www.leginfo.ca.gov/cgi-bin/displaycode?section=civ&group=00001-01000&file=890-894



b) "Multiple acts of rent skimming" means knowingly and willfully rent skimming with respect to each of five or more parcels of residential real property acquired within any two-year period.



Regardless whether the owner pays his/her lender, a tenant is required to pay his/her rent.
 
biscuitninja wrote: ...you can check to see when the house was bought, if they owe any taxes and how much money is owed on the house. [...] Example: They bought the house for 600k and the rent is 1900, uhh, no. Unless they put something like 400k down, then the 1900 won't even cover 50% of the mortgage, let alone the taxes and other fees.



Public records don't, of course, reveal the current principal balance of a loan. You can ASSume that if they bought in X, that the balance is => Y, but you wouldn't know for sure unless you checked with their lender which, of course, you cannot do.
 
<p>Gal, </p>

<p> Of course. As you mentioned i'm ASSuMEing that the buyer won't put 30+% down to afford a house to rent.... They will however put 30+% down on a house to live in. Just a common sense thing.</p>

<p>AND FYI you can find that information in AZ, its public. I didn't except to find it here, but as I mentioned with a little bit of detective work and some common sense, you get the right idea.</p>

<p>good luck</p>

<p>-bix</p>
 
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