Affordable Atlanta Homes Advice

If you are renting, know your rights about foreclosure

Cathy — Sat, 06 Feb 2010 08:03:28 +0000

If you are renting, these times of continued real estate foreclosures should be enough to goad you to know your rights before you experience eviction due to your landlord’s foreclosure.

You do not have to wait for your landlord to tell you the property you are renting has been foreclosed and you have to move out immediately. A lot of distressed landlords do not notify their tenants properly in case of foreclosure for fear of having their properties vacated before the actual foreclosure is implemented.

Many of these troubled landlords also no longer have the money to pay back security deposits.There is one legal way for you to know in advance if your landlord is being foreclosed upon. You can request your county to notify you in case the property you are renting gets foreclosed.

While the procedure of requesting for notification varies from state to state, the steps are generally the same. To get this notification, you are typically required to file a request with your county recorder. You need information on the property such as name of trustor, name of beneficiary and document number, which you can get from the recorded deed of trust. You can obtain a duplicate of the recorded deed of trust from a title company.

After having the form notarized and after paying the filing fee, the county recorder then accepts your request and notifies you if the unit you are renting gets a foreclosure filing.

In California, real estate foreclosures take about three to four months to complete. With the notification, you will have enough time to prepare and will have reason to use your security deposit as your rent payment.

Under the Helping Families Save Their Homes Act, which took effect in 2009, you can stay in your unit for at least three months more if you pay your rent from month-to-month.

If you have a long-term lease, you can choose to file a complaint in a small claims court so you can recoup your deposit and claim compensation that you can use to move. You can also negotiate with the foreclosing lender for cash assistance.

If you made a large deposit and your landlord refuses to return it or no longer has the capacity to return it, it is best if you ask help from a lawyer. There could be laws that apply to your situation and enable you to recoup your money. State and federal legislators have already passed laws that protect renters from being abused in case of real estate foreclosures.

Joseph B. Smith has been educating buyers on the finer points of Real Estate Foreclosures at BankForeclosuresSale.com for over five years. Contact Joseph B. Smith through BankForeclosuresSale.com if you need help finding information about Real Estate Foreclosures.

Home-buyer Tax Credit Extended!

Cathy — Sat, 07 Nov 2009 07:50:52 +0000

Good news future homeowners! Congress and the President signed the bill to extend the $8,000 home-buyer tax credit. That’s right, you have until the end of June to close on your new home and still get the credit. Check it out here!

Is the economy recovering…New home sales are up!

Cathy — Sat, 30 May 2009 20:58:22 +0000

Ever so slightly I’m seeing more good news that the economy is recovering! It is refreshing to see the media pick up positive stories about the housing market…and know that affordable housing is STILL available! Check out this link!

73% of homes sold considered affordable

Cathy — Mon, 25 May 2009 06:53:35 +0000

This is GREAT affordable homes news to hear! The National Association of Home Builders & Wells Fargo reported this via the Housing Opportunity Index, an 18-year old analysis of markets. With housing priced at historical lows as well as FHA money available for loans, this is THE time to buy! Are you still doubting that NOW is the time to buy and you can’t really afford a home of your own? There are programs available to buyers that meet program guidelines where the down payment monies are gifted to the buyer! Click here for an overview of the Georgia Dream Program!

FREE CEU’s for Atlanta Agents!

Cathy — Mon, 18 May 2009 06:44:54 +0000

Neighborhood Stabilization Program class – FREE for Real Estate Agents at Greater Atlanta HBA http://bit.ly/19utvq

22 days until the 2009 Georgia Housing Summit

Cathy — Fri, 15 May 2009 14:49:33 +0000

Speaking of affordable Atlanta Homes… There are 22 days left to register for the FREE Georgia Housing Summit. Being held at the Cobb Galleria this year, the summit hours are from 9 a.m. to 3 p.m. Developed to educate and inform potential homebuyers, the summit provides resources and HUD-approved counseling agencies at the event with information on the current state of the Gerogia housing market and what it takes to become a homeowner. CLICK HERE TO REGISTER! Registration is FREE!

100 Q & A for First Time Home Buyers

Cathy — Wed, 13 May 2009 04:25:17 +0000

Here are 100 questions with answers from the Federal Housing Authority for you to review before purchasing you new home. This is a great place to jump in for a comprehensive look at all the things you need to know when planning to become a new home owner. CLICK HERE!

Now is the time to buy…

Cathy — Tue, 12 May 2009 03:59:45 +0000

There are new home builder stocks that are THE hot thing to buy! New home builders are starting to compete with foreclosures and there appears to be a pending demand for housing coming! This is exciting stuff to hear for the economy. http://bit.ly/Dk9Nh

What does it really cost to own a home?

Cathy — Mon, 11 May 2009 04:04:25 +0000

There are many costs that new home buyers forget to include in their monthly budget! This fact can increase your expenses exponentially! Take a look at this article and see if you have thought about these additional costs of owning a home.

Housing Affordability Reaches All-Time High

Cathy — Thu, 07 May 2009 19:03:15 +0000

One of the upsides of a crashing-and-burning housing market, as Edward Glaeser noted back in October, is that buying a home becomes more affordable.