Repos fiasco and the renters
Posted on April 16, 2008
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Renters who are thrown-out from their house owned by the landlords can now be caught by state’s repos fiasco. It is true that lease protects a renter from the unjust actions of his landlord. But if the taxes or property mortgage is due or unpaid then obviously the right will also get void. Today a Metro Detroit has become the main concern of the country’s foreclosure crisis. Research reveals that credit crunch has affected the tenants living in a single-family bungalow as well as one living in a multiunit complex.
For example, Detroiter Charlene McKnight without prior notice had to find a new house for herself when her home owner was left out with property taxes. She then had to move on to a three bedroom flat on Detroit’s east in 2006. For about a year she paid all the rents on time and had also canceled up the checks that could prove it. After few months, she got a foreclosure notice at her doorsteps. She had no idea as what that notice meant, then she was advised to stop the rent payment and shifted to a new place nearby. McKnight’s was amongst hundreds of people in Metro Detroit who were pulled-out from their houses after the landlord failed to maintain the mortgage payments or the property taxes.
According to RealtyTrac, a real estate information firm in California revealed that there were around 477 foreclosure filings related to multifamily homes in Oakland, Wayne, Macomb and Livingston from Feb 2007 to Feb 2008. This is only a few reports of foreclosures recorded in Oakland and many other countries since last few years, but these numbers do not disclose the actual foreclosure problem faced by so many people who decide to rent or hire their homes.
David Lagstein, a society manager with Association of Community Organizations for Reform in Detroit, got many calls from the renters living there who don’t know what should be done when the landlords do not fulfill their financial obligations.
The low-income housing lawyers have suggested the renters to confirm about the landlords before they decide to move in. Though, it is quite difficult for the renters to know whether the mortgage or credit is in foreclosure or not but it is advisable to verify all the tax records to confirm whether those payments are proper and up to date. The renters who don’t know how to tally those tax records can take help of a legal attorney. The legal attorney will go through all the property payments and tax records carefully and in this way you will get a right guidance.
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