3

Gainesville Florida Renter Rights During Foreclosure

Gainesville Florida Renter Rights During Foreclosure

Gainesville Foreclosure News: “Protecting Tenants at Foreclosure Act” (PTFA) is part of the “Helping Families Save Their Home Act of 2009” (S.896). It gives protection to tenants who live in homes that are bound to foreclose. This law was supposed to end at the end of 2012 but has been extended recently to December 31, 2014.

HUD –approved housing counselors are groomed in giving helpful advice for free.
If you are a tenant in the midst of a foreclosure dilemma, it will be wise for you to seek professional advice from these counselors. Click here to view HUD’s website.

http://portal.hud.gov/portal/page/portal/HUD/i_want_to/talk_to_a_housing_counselor

Additional Foreclosure News Information:

Florida Statutes, Chapter 83, Part I

This applies to nonresidential leases and the rights of the tenants in residential leases are covered in Part II. The statute states the lease requirements and the rights and responsibilities of both the tenant and the landlord. Although specific guidelines for the foreclosure of rental property are not expressed in the statute, the provisions that were included provide insights on how renters may respond in such circumstance in accordance with their rights.


Provisions for Gainesville Tenants with and Without a Lease

Existence of a legitimate lease will determine the renter’s eligibility to be under the PTFA’s protection. Renters under a lease have the freedom to stay in the home until the lease period expires. They will have enough time to look for other homes to live in during this grace period. A 90-day notice of the foreclosure action and tenancy termination will be given to tenants renting monthly or at will.

Tenant may get paid to end Gainesville Florida lease

Gainesville Florida Foreclosure News reports that the owner of homes who would like to move in the house right away have the option to offer “cash for keys” – The short sale bank offers payment to the tenant in exchange of forfeiting their lease – to the renters leasing the home. This is usually practiced in homes that are being foreclosed.The renters who enter into this kind of agreement are expected to leave the home clean and everything in good condition.
The short sale bank will offer a payment to the tenant and in return, they will have to forfeit their lease.

The lease becomes legitimate by law when:
1. The lease was out of an arms-length transaction;
2. The lease requires the receipt of rent that is not considerably below fair market rent for the home or the unit’s rent is minimized by a Federal, State, or local subsidy; and
3. The mortgagor or the spouse, child, or parent of the mortgagor under the lease is not the tenant.

Other Articles to Read:

Gainesville FL Foreclosure News – Loan Modification Failures Are Rising

Banks to Prove they Own Note to Foreclose

Gainesville Short Sales – Mortgage Relief For Unemployed

Avoid Notice of Default – Refinancing Balloon Mortgages

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.

  

Stephanie Anson
 

When choosing a Gainesville, FL short sale agent, Stephanie Anson understands how avoiding foreclosure impacts you and your family’s life as well as those around you. Stephanie Anson is a respected member of the local business community and knows what it takes to prevail. She is one of the most dedicated and committed Gainesville, FL short sale agents. Her experience and emphasis on customer service and satisfaction along with her technological background has been a driving force throughout her real estate career. From the time Stephanie served in the US Navy to now, she takes the time to get to know each of her clients, associates, and industry professionals and forms lifelong relationships with them.

Click Here to Leave a Comment Below 3 comments