Responsibility of Outdoor Maintenance of Rental Property: Landlord or Tenant Who is responsible for a rental property’s outdoor maintenance, such as tree trimming and gutter cleaning, depends on what it says in the lease agreement. In terms of a lease, the two parties (landlord and tenant) can come to any division of maintenance they want. If the lease is silent on the subject, the landlord owns the whole property and is responsible for the maintenance in all areas not rented by the tenant, while the tenant is responsible for maintaining the areas under his or her control. → Read More
Breaking Future Apartment Lease and Getting Back Deposit Since a lease is a contract, once a tenant has leased an apartment or other premises, he or she is responsible for the entire amount of rent owed under the lease, for the whole term. This is the case even if occupancy hasn’t started yet. A deposit on the apartment or other premises paid to hold the unit would be forfeited if the tenant breached the lease. → Read More
Legal Removal of Unwelcome House Guests Any attempt to’evict’ an uncooperative and unwanted house guest and/or tenant can be frustrating and costly for the owner or landlord. The first order of business in determining your options is to establish whether the house guest is a lodger, a bonafide house guest, or a roommate. → Read More
Mortgage Contingency Clause in Real Estate Home Purchase Contract A “loan contingency clause”, also known as a “mortgage contingency clause” , is a provision in the home purchase contract that says that if the prospective buyer can’t get a mortgage within a fixed period of time, s/he can call the whole deal off. In other words, the agreement is conditional on the buyer being able to obtain a mortgage on the property. → Read More
Homeowner with Outstanding or Upside Down Mortgage If the value of your home drops, making the amount of your mortgage higher than the actual value of the property, you are considered to have an “upside down mortgage.” However, an upside down mortgage is just like any mortgage: it is a contract that legally binds you to fulfill your obligation of paying the loan in full. → Read More
How Home Foreclosure Affects a Renter When landlords lose properties to foreclosure, tenants are often in trouble. Tenants who get evicted have a few remedies against their former landlords including exercising their rights to “quiet enjoyment” of the property. → Read More
Help for Older Homeowners in Foreclosure Older homeowners in foreclosure have one advantage that others do not. The Older Americans Act of 1965. The Act created the federal Administration on Aging, which in turn funds state Legal Aid offices to assist older Americans with legal issues, including foreclosure. → Read More
Avoid Home Foreclosure by Become a Landlord and Renting a Room Some people who are facing a potential foreclosure engage in homesharing—renting a room in their home in order to earn income with which to pay the mortgage. → Read More
Facing Foreclosure: The Homeowner’s “Produce the Note” Defense A “Produce the Note” defense is a way of buying time when you are in foreclosure. It works better in some jurisdictions, but not in all jurisdictions. → Read More
What Happens to a Second Mortgage in a Home Foreclosure? While it can vary greatly from state-to-state, once the lender on a first mortgage forecloses on a property, the lender will sell the first mortgage to the highest bidder in a foreclosure auction sale. The sale proceeds will then be used to pay down any real estate taxes that are due. Once the real estate taxes have been paid, if any proceeds are left, the first loan must be paid, and then the second. If the proceeds from the auction are not enough to cover these debts, several things can happen. If the balances in the first and second loans cannot be paid off, both lenders typically have the right to sue the borrower for balances owed, plus interest and other costs. → Read More
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