Renting from an Owner - Want to check if they are current with their mortgage

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OCcubanita_IHB

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So after months and months of reading this blog, I have decided to wait out the housing market before buying a place. Instead, I'm going to be giving notice on my current rental (as I really, really dislike my currently living situation) and move to a different rental elsewhere. It looks as though I will be renting a privately owned condo and want to be sure that the owner has been on top of paying her mortgage, isn't in over her head, etc. Would someone please look into this for me if I PM the address? I would really appreciate the help.
 
[quote author="OCcubanita" date=1244210577]So after months and months of reading this blog, I have decided to wait out the housing market before buying a place. Instead, I'm going to be giving notice on my current rental (as I really, really dislike my currently living situation) and move to a different rental elsewhere. It looks as though I will be renting a privately owned condo and want to be sure that the owner has been on top of paying her mortgage, isn't in over her head, etc. Would someone please look into this for me if I PM the address? I would really appreciate the help.</blockquote>
PM me the address and I'll check things out for you.
 
[quote author="OCcubanita" date=1244245060]Thanks usctrojanman! I sent you a PM. Let me know if you didn't get it. Thanks again for the help!</blockquote>
I got it and will reply later on this evening.
 
Hey usc,



Could you also check on my rental place too? I checked the tax info and they have not paid for the entire year. Please let me know if you can check on mine.



Thanks.
 
[quote author="shotkall3r" date=1244608487]Hey usc,



Could you also check on my rental place too? I checked the tax info and they have not paid for the entire year. Please let me know if you can check on mine.



Thanks.</blockquote>


What more do you need to know?



They aren't paying their taxes. Move.
 
[quote author="shotkall3r" date=1244608487]Hey usc,



Could you also check on my rental place too? I checked the tax info and they have not paid for the entire year. Please let me know if you can check on mine.



Thanks.</blockquote>
PM me the address and I'll check on the debt load. Them not paying their property taxes would be a bad sign though.
 
No kidding. Deferred maintenance is one thing for a strapped landlord, but not paying the property taxes is unheard of for a sound landlord unless he/she died. We pay the property taxes on our rental before they are due in order to capture all of the expense in the previous calendar year. The penalties for not paying are too stiff and the tax benefits too good to not pay the property taxes.
 
[quote author="freedomCM" date=1244613155][quote author="shotkall3r" date=1244608487]Hey usc,



Could you also check on my rental place too? I checked the tax info and they have not paid for the entire year. Please let me know if you can check on mine.



Thanks.</blockquote>


What more do you need to know?



They aren't paying their taxes. Move.</blockquote>


FreedomCM,

Yes, I have been looking for a new place and I can move within a couple days notice. The issue I have is that my rent here is so cheap, so every month that goes by, I'm saving $ compared to if I rented somewhere else. Which is why I want to get more info to try to see how much longer I can stay here before something happens.



Hey usc,

I just PM'd to you the addy. Thanks again.
 
If you can move within a couple days notice, yeah, don't sweat it. Evictions take forever, and if you have a lease as opposed to renting month to month, the lease should stay with the property with the new owner being forced to abide by it's terms.
 
[quote author="shotkall3r" date=1244687246][quote author="freedomCM" date=1244613155][quote author="shotkall3r" date=1244608487]Hey usc,



Could you also check on my rental place too? I checked the tax info and they have not paid for the entire year. Please let me know if you can check on mine.



Thanks.</blockquote>


What more do you need to know?



They aren't paying their taxes. Move.</blockquote>


FreedomCM,

Yes, I have been looking for a new place and I can move within a couple days notice. The issue I have is that my rent here is so cheap, so every month that goes by, I'm saving $ compared to if I rented somewhere else. Which is why I want to get more info to try to see how much longer I can stay here before something happens.



Hey usc,

I just PM'd to you the addy. Thanks again.</blockquote>
Check your PM.
 
[quote author="Geotpf" date=1244688949]If you can move within a couple days notice, yeah, don't sweat it. Evictions take forever, and if you have a lease as opposed to renting month to month, the lease should stay with the property with the new owner being forced to abide by it's terms.</blockquote>
Very good point. If the lender hasn't filed a notice of default against the property, there's almost no way it will get foreclosed within 6-9 months. Plus, if it does get foreclosed the lender may offer you cash for keys to vacant the property within a certain time period so being in a foreclosed property can pay off. As soon as the property is foreclosed, I would stop paying the rent.
 
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