question about renting a house in Irvine

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ssoc_IHB

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My family and I are planning to rent a house in Irvine later this summer before the beginning of next school year. We would like to stay in the house for a year or two until house prices come back down to earth. I am a little concerned about renting from someone who, for some reason or another, decides to walk out on his/her mortgage. What are the rights of the renter in this situation. Can the lender ask you to leave if and when they foreclose on the house. How do people or other renters on this board handle this issue. I know there is probably no sure way to guarantee this but I am looking for ways to minimize this risk.
 
[quote author="SOC" date=1240896504]My family and I are planning to rent a house in Irvine later this summer before the beginning of next school year. We would like to stay in the house for a year or two until house prices come back down to earth. I am a little concerned about renting from someone who, for some reason or another, decides to walk out on his/her mortgage. What are the rights of the renter in this situation. Can the lender ask you to leave if and when they foreclose on the house. How do people or other renters on this board handle this issue. I know there is probably no sure way to guarantee this but I am looking for ways to minimize this risk.</blockquote>
Let me know if you would like me to run you some MLS rental listings. I can also pull up the owner's purchase price and debtload which will give you a good indicator as to whether the property might be foreclosed on or not.



Normally the bank, after it foreclosures, will proceed with the eviction process. However, most likely they will offer the tenants a "keys for cash" incentive to move out and leave everything in good shape.
 
Send a private message to Irvinerealtor - he helped me out with this when i leased a house in December 2008, provided the loan history, etc. Thanks again Deuce!
 
Thats a great service you guys are providing. I would imagine that you could turn a buck or 2 on the side. Plenty of people are concerned about this right now.
 
[quote author="SOC" date=1240896504]My family and I are planning to rent a house in Irvine later this summer before the beginning of next school year. We would like to stay in the house for a year or two until house prices come back down to earth. I am a little concerned about renting from someone who, for some reason or another, decides to walk out on his/her mortgage. What are the rights of the renter in this situation. Can the lender ask you to leave if and when they foreclose on the house. How do people or other renters on this board handle this issue. I know there is probably no sure way to guarantee this but I am looking for ways to minimize this risk.</blockquote>


I know <a href="http://www.irvinehousingblog.com/forums/viewthread/5100/">a guy in Fullerton </a>you could rent from.
 
We finally found a place and we're all moved in. A very big shoutout to IrvineRealtor for sticking with us all this time and helping our family find a home. He has been very very very patient with my requests throughout the whole process. I lost track of how many properties he helped show us but they were a lot. Scott is always very professional and keeps his word. Both my wife and I really enjoyed working with Scott and will make sure to call him again when we're ready to buy a house.
 
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