The following is just a friendly opinion and comes with no warranty or guarantee of success. The responsibility and consequences for your actions taken based on any advise from anyone are solely yours. It is recommended to seek legal counsel when dealing with legal matters to avoid unpleasant outcomes.
In an increasingly dire economy, with many people getting layed off or fired because of global Corporate and Banking fraud and continued government complicity in this crime, many families will find themselves jobless and eventually homeless due to foreclosure. What can we do to fight back at the very institutions that have created this financial crisis?
If you are going to be foreclosed upon and evicted from your home and are about to be made homeless by the bank, use the Law to stay in your home and off the street. When properties change hands all pre-existing legal agreements must be honored by the new property owner, including the bank. A lease is a legal agreement. A new owner of a property must honor the rights of renters to the terms of their pre-existing lease and expires with that lease's expiration date.
Rent your home to a trusted friend or relative (who is not listed on the mortgage) that will allow you to stay and live in the property. Lease the property to them for $1 per month for 99 years and make it (the lease) as friendly to the renter as possible and don't forget to get it notarized. Once the property is sold, you or your friend simply pay the bank $1 every month and you get to stay for 99 years.
If any lawyers would like to comment on the subject please do. I'd love to hear your opinions.
Merry Christmas and Happy New Year.
If your landlord is in foreclosure, there are two critical questions: when did your lease begin and when did the landlord take out the mortgage? Generally, if your lease was in existence before the landlord took out the mortgage on the property (making you a "long-term tenant"), your lease continues in existence after the foreclosure and sale of the property, and you can't be evicted.
ReplyDeleteMore often than not, however, your lease won't pre-date the mortgage. In such cases, you'll be named as a defendant in the foreclosure action so that the lender can terminate your lease and have you evicted if you refuse to leave the premises.
Thank you for your comment. I would imagine this may be different in different states. Some States are more Renter friendly than others.
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