patrick.net

I dont know much of houses but if house is in forclosure it is for sale. Isn't?

If it is on sale, and it will have a new ownerhow in the world you are even considering renting it? And knowing the conditions even worse.

I believe that in life the best way to get out of trouble is by avoiding it. So avoid this one for sure. I'm sure there are TONs of more houses that can be rented, why to stick in something that smells bad?

Call his bank and offer them less rent.

Thank you for the comments. I don't know the bank info , but was asked to put down a deposit of 1/2 of 1st months rent(he wants a money order in the name of a Title company) to take it off the market. Supposely the house is in the process of forclosure for the past 1 year. Whats the worst that can happen? The bank eventually completes the forclosure process, takes the house from the owner, and i get 60-90 to move out?

You should go by AF's advise. There has never been a better time to squat in a million $ mansion. Why rent?

KP says

The owner wants 1st and last 2 months, same as security(2nd month) he says.

Yeah, of course he does. Every unscrupulous landlord with a house in foreclosure wants far more than one month's rent up front. Don't buy the BS about having a 60-day out clause. Paying "last 2 months" is just a big security deposit. I don't think you'll ever get it back if you pay it.

Why would you pay this jackass when he's not paying the bank? Are you getting that good a deal?

But if I stay the whole year, the last 2 months I wouldn't pay rent. The house is nice, last renter stayed 1 year without problems under same terms and paid 20 % more that I offer(and was accepted)

I read that in Florida, one has 60-90 days(with a year contract) to vacate a home once the bank takes 100% control of it.

True?

Before we bought and moved. My land lawd fell almost a year behind, the bank sent us a letter telling us to pay them the rent.
I told them I would be happy to, just as soon as the judge ordered it.

I quit paying rent for the three months we gave the original owner back in '98, that the current owner and third after the original owner. Told me that there was no record of a three month deposit on the place.

I bought the house that week, and took three months to close, the land lawd and the bank got jack squat from me. The bank had no legal recourse, and the owner couldn't ding my credit for not paying rent, because she had a lawyer delaying her foreclosure citing that she didn't have any money. That would include rent. She thought by not renewing my lease for the last two years, with me not having a lease and no legal standing, I would be a push over.

KP says

But if I stay the whole year, the last 2 months I wouldn't pay rent. The house is nice, last renter stayed 1 year without problems under same terms and paid 20 % more that I offer(and was accepted)

Sure, but if the house gets foreclosed before that, will you get your money back? I wouldn't count on it.

I would certainly not believe the landlord when he/she says "if you give me the last two months, I will guarantee you get 60 days notice to vacate."

KP says

I read that in Florida, one has 60-90 days(with a year contract) to vacate a home once the bank takes 100% control of it.

I'm not familiar with FL law, but would not be surprised if that were the case.

don't do it, because the chance you will get your 2month deposit back is pretty slim.

Its not a deposit. Its a 1 yr contract, with the last 2 months being paid upfront. If I make it through the 1 yr without the bank taking it during that time, no problems. The question is will I be able to stay the last 2 months that I prepaid, when the bank officially takes it ?

Renters in Foreclosed Properties No Longer Lose Their Leases
Before May 20, 2009, most renters lost their leases upon foreclosure. The rule in most states was that if the mortgage was recorded before the lease was signed, a foreclosure wiped out the lease (this rule is known as "first in time, first in right"). Because most leases last no longer than a year, it was all too common for the mortgage to predate the lease and destroy it upon foreclosure.

These rules changed dramatically on May 20, 2009, when President Obama signed the "Protecting Tenants at Foreclosure Act of 2009." This legislation provided that leases would survive a foreclosure -- meaning the tenant could stay at least until the end of the lease, and that month-to-month tenants would be entitled to 90 days' notice before having to move out (this notice period is longer than any state's non-foreclosure notice period, a real boon to tenants).

An exception was carved out for the buyer who intends to live on the property -- this buyer may terminate a lease with 90 days' notice. Importantly, the law provides that any state legislation that is more generous to tenants will not be preempted by the federal law. These protections apply to Section 8 tenants, too.

Importantly, tenants who live in cities with rent control "just cause" eviction protection are also protected from terminations at the hands of an acquiring bank or new owner. These tenants can rely on their ordinance's list of allowable, or "just causes," for termination. Because a change of ownership, without more, does not justify a termination, the fact that the change occurred through foreclosure will not justify a termination.

I found this --- The only good thing Obama has done!!

Yes, it's accurate. In a nutshell:

If the house is sold and the new buyer makes it their primary residence, you have 90 days.

If the house is sold/foreclosed and it's a bank or not a primary residence, they have to adhere to the original lease.

I still wouldn't pay the last 2 months in advance since you won't know the time of foreclosure unless they put a notice on your door. Also, make sure you scrutinize the lease.

CrazyMan -- Thanks

KP says

Its not a deposit. Its a 1 yr contract, with the last 2 months being paid upfront. If I make it through the 1 yr without the bank taking it during that time, no problems. The question is will I be able to stay the last 2 months that I prepaid, when the bank officially takes it ?

Under California law, any money paid ahead of time is treated as a deposit. If you are not in California, you should look up local law.

Anyway, you seem like you are pretty convinced you should do this, so I won't try to change your mind any further -- seems pointless.