How much notice should I give a renter in georgia if the house is going into foreclosure?
Jan 20, 2009 in
Financial and Loan Tips
dee100
I am currently renting out a home that is getting ready to go into foreclosure, the lease is up June 30 when is the last month I should collect rent and how much notice should I give him?
I am currently renting out a home that is getting ready to go into foreclosure, the lease is up June 30 when is the last month I should collect rent and how much notice should I give him?
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4 comments
kemperk on January 20, 2009 at 1:21 pm
now.
pure and simple.
and if you lack cash to refund
all deposits collected,
be honest
and do not collect any more rent.
….leave with integrity and ethics!
[sorry for your loss]
[have you ever heard of
tax foreclosures?]
Mike on January 23, 2009 at 6:11 am
I am a landlord.
I am sorry to hear of your difficulty.
It is critically important that you let your tenants know immediately that the property is going into foreclosure.
Remember that your problems are not their problems. You should not let your problems become their problems.
This is fair. After all, you would not want your tenants to let their problems become your problems would you?
I would hope not.
It is late at night now.
I recommend that you talk with your tenants tomorrow morniing and explain the problems that you are having and that the property will go into foreclosure so they will need to start looking now for a new place to live.
REO Master on January 24, 2009 at 3:29 am
You should contact him now just in case he wants to buy from you. You should be ethical and give him his deposit back but if you can’t then you need to subtract from the rent. So if his lease is up in June he has 2 months rent owed to you and then he has to move so realistically you may have incurred him more cost because now he has to move. Hopefully you can make a deal with him so you both feel good about this terrible situation. Good Luck!!
Jennifer on January 26, 2009 at 6:25 pm
Hi,
I used “Credit Solution” to settle my debt and avoid foreclosure.They managed to reduce my debt up to 58% .It’s legitimate.I came across this company on NBC News Special Edition.Check it out here: