Can I collect rent during a short sale of my property in California?
Wednesday, January 13th, 2010 at
11:12 am
In an effort to avoid foreclosure we decided to short sell our home. The investor who bought the bank loan, placed it in a land trust. He then was selling the home to a buyer (for profit) and thought the transaction was going faster than expected so we needed to move out to accommodate the buyer…we found a rental to move into. Fifty days have since passed, the original transaction has not recorded, and the “proposed” new buyer has been living in the property free from any payments! Had we known it would take this long, we would’ve remained in the property instead of paying $1500 a month to rent. We feel that we are at risk with her being there and the property still being in our name. With that said, can we collect rent from her?
Passive Income
Related articles:
- I bought a property in a city tax sale. Can I legally collect collect rent from the tenants? Bought property in a new orleans tax sale. I am in doubt as to my legal rights to collect rent from the current tenants , as well as how...
- Can the buyer of a short sale home, turn around and rent it back to the people that are short selling? We are trying to short sale our house and were approached by some people from up north that wanted to buy some property here in Florida and rent it...
- Do I have to pay rent if the property I’m leasing is listed as a short sale & is in the foreclosure process? I live in Florida. I’ve been paying rent for over two years and I have an unstructured lease agreement. The lease basically states that I have been offered the...
- Has anyone had a short sale refused by the mortgage lender? We have our investment property for sale because we cannot make the payments anymore. The renters are 5 months behind with rent & are now squatters. We are trying...
- I signed a year lease beginning in March ‘09 and landlord is selling property via short sale. What should I do? I found out from the first broker here in Florida handling the property that owner hasn’t paid mortgage since Oct. 08, among many other shady things. The manager (friend...
Tagged with: Bank Loan • Investor • Rent • Risk
Filed under: rent property
ask a realtor about these questions
It title to the property is still in your name then you are entitled to occupy or rent unless specifically prohibited. If the investor has recorded title then he gets the rent and occupancy, unless otherwise specified in your agreement.
Sus papeles originales de la hipoteca dijeron que usted no recogería alquiler sin el envío de él a la compañía de hipoteca; en caso que usted no pudiera hacer los pagos de hipoteca mensuales. Recogiendo los alquileres se llama " skimming". Usted está tan correcto, usted no debe haberse movido hacia fuera. Y usted no debe haber permitido que los compradores se muevan adentro. El banco será feliz si usted intenta recoger un poco de dinero y enviarleslo. Le recompensarán a veces para su cooperación. Éntrelos en contacto con.