Monday, March 16, 2009

Foreclosure and Renters

Foreclosures Can Be Real Nightmare For Renters

The National Association of Home Builders says nearly 40% of today's foreclosures involve residential properties that are being rented out by their owners. That means many renters are now at risk of losing their leases and being forced to move with little warning.
Learning the status of a property you are about to rent is important before you sign a rental agreement. One approach is to ask the landlord to show you a recent statement verifying up-to-date payments.

Another approach: While the landlord may ask for permission to run a credit check on you, you can also ask for permission to check his or her credit report showing payment history.
Still another way to ensure you won't be forced out of your home: Buy your own! Give us a call to find out how far your rent check would go toward purchasing a home. It's just a call -- no obligation! Contact Richard Johnston , Rodeo Realty 818-730-4128

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