Post # 1
Darling Husband and I rent from a townhome complex and got a call late last week that we have to move out by Christmas. I guess the complex manages the property for the actual owner, who hasn’t been paying the mortgage. So they’re being foreclosed on and we’re out of a place to live…
There are a couple units where we live we can move in if we like, which is nice to know. But I’d love to find a place with a garage. Buying is out of the question for the moment because we want to have our student loans completely paid off before going down that road. I thought we had found the perfect place – single family house, two-car garage but someone put a deposit down on it a few ours before our viewing.
We just haven’t found much on the rental market that we like. All the properties we’re finding are in neighborhoods we want to avoid. So it’s looking more and more like we’ll have to stay. At least if we do they’ll upgrade us at no extra cost either to an end unit or the opposite floorplan which includes a much bigger kitchen. And we’re going to get about $2,000 from Fanny Mae.
Sorry, just venting.
Post # 4
I hate moving too! That is really frustrating, but try to focus on the good aspects of it – the free upgrade and the money back! Not too bad of a silver lining 🙂 Also, for me, moving was a good chance to get rid of a lot of stuff I didn’t need (I tend to be a bit of a packrat lol)
Good luck hun!
Post # 5
We’re in a college town in mid-Missouri. So there are a lot of rentals out there but we DON’T want to live near students.
Post # 6
If it is truly a matter of foreclosure, look up the Tenant Protection Act of 2008 and see if it applies to your situation. If you have a lease that was signed before notice of the foreclosure was received, you may be able to stay out your current lease with the bank as owner.
We got stuck in a similar situation with a house last year and the property managers mucked things up pretty good for us. We moved exactly a week before Christmas last year and it was, in a word, hell. But, in our case, the home we were renting was purchased under a VA loan and the property still hasn’t been transferred to the VA loan bank–we could have stayed and found the Property Managers threat of eviction (and won, too) but we’d have been squatters and didn’t really like that.
Post # 7
@thirdtimebride: Thanks for the info. I’ll look into that.