More “accidental” landlords are surfacing as home owners turn their underwater homes into rentals to try to come up with some extra cash. But some of these accidental landlords are still unable to keep up with their mortgage payments and may become delinquent on their mortgage. So what’s this mean for the person renting their property?
Some renters may suddenly be served with an eviction notice when they discover the property they are renting is being foreclosed upon, and only having days to vacate.
One new Web site, CheckYourLandlord.com, allows renters to check rental properties in the U.S. to see if there are any notices of default filed against the property.
Renters, or real estate professionals who represent them, can also stop at the county recorder’s office to check the status of a property.
Source: “Renters Can Search Their Home for Foreclosure Notices for Free at CheckYourLandlord.com,” Marketwire (Nov. 30, 2011)