Posted by admin | Posted in All About Foreclosure | Posted on 25-08-2010
Tags: economics, economy, finance, foreclosure stories, foreclosure stories 2009, foreclosure stories 2010, foreclosure stories in ca, home foreclosure stories, housing, visualization
How can I find out if the home I’m about to rent is in mortgage default?
I’ve heard a lot of horror stories about renting a home that later goes into foreclosure, so I want to educate myself before I actually sign a lease. Thanks.
Check your local Clerk and Recorder’s or Public Trustee’s office. They will have the information and hopefully they’ll have it online.
When a bank forecloses, depending on where you live (for example in Colorado they go through the Public Trustee’s office) they have to notify the county.
Find out who, in your city/state handles foreclosures.
Unless the bank is already taking action though, you have no way of knowing if they are getting ready to foreclose, unless the owner is willing to share that information with you.
You can put the clause in the contract like the other person mentioned but honestly I don’t think you can enforce it. And if you can, it will be more trouble than it’s worth.
Good luck.
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