ArticlesBase.com - Free Articles Directory
Free Online Articles Directory
15.10.2008 Sign In Register Hello Guest
Email:
Password:
Remember Me 
forgot your password?


Hundreds of Renters Being Evicted by Banks and Real Estate Investors Still Profiting

Author: Shaun Greer Author Ranking Bronze | Posted: 20-04-2008 | Comments: 0 | Views: 4 | Rating:  (50) Article Popularity - Green (?) Got a Question? Ask.
Sign Up Now!

Now that the foreclosure epidemic is in full swing, it is not just home owners who are getting slapped in the face. Hundreds of tenants renting homes across the nation are being evicted and forced to move with little or short notice from the banks.

The renters have no idea the homes they are living in are in preforeclosure status and are scheduled to soon be sold at public auction. The renters only find out when they come home to a notice posted on the front door stating they have 30 days to move or be forced to leave the house.

It all started when investors purchased houses as investments speculating they would go up in the near future. They purchased high end homes with larger price tags so they could make more money in a shorter amount of time. After all when housing prices go up by 10% you are much better off to having a $500,000 house than a $100,000 house.

Now many of those so called easy money real estate investments are falling into foreclosure and the banks are the ones evicting the tenants. Many tenants are in long term lease agreements and have been paying their bills on time for months. They also put down large sums of money as a rental deposit for the home they have been living in.

I see this scenario on a weekly basis. Once the home owner or investor knows they can not afford the mortgage they keep collecting the rent checks but dont pay the mortgage and pocket the money. I do not think this is ethical and the investors are at fault for not being honest with the tenants. The problem is, the rental agreement has no information about what happens if the home goes into foreclosure while the tenants are living in it.

Most investors who leave their tenants hanging are not full time professional investors. They are people who jumped on the real estate, get rich quick band wagon hopping to make a quick profit. Professional real estate investors would not do this because they can not afford to have their reputation tarnished by such acts. They rely on reputation and referrals for business which is how they feed their family.

So the questions is,
Do you think the real estate investors or land lords are responsible for loss damages paid to the renter? After all moving your family in less than 30 days can be very hectic and these renters are also out their deposit. Is it ethical to have real estate investors making a profit off of renter and keep collecting the rent even when they know the renter will be evicted.

Rate this Article: Current: 0 / 5 stars - 0 vote(s).

Article Source: http://www.articlesbase.com/real-estate-articles/hundreds-of-renters-being-evicted-by-banks-and-real-estate-investors-still-profiting-391717.html

Print this Article Print article   Email to a Friend Send to friend   Publish this Article on your Website Publish this Article   Send Author Feedback Author feedback  
About the Author:

Sell My House To A Local Real Estate Investor

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Comment on this article Comment on this article
Your Name
Your Email:
Comment Body
Enter Validation Code: Captcha


Got a Question? Ask.

Ask the community a question about this article:

Frequently Asked Questions

Credit counsleing for houses how to stop ...
By: Mary | 22-09-2008
credit counsleing for houses  how to stop foreclosure

Want to know how to stop foreclosure??
By: Adalia Dustin | 29-08-2008
The easy way: go to stop foreclosure : http://www.tostopforeclosure.com Those are REOs. For pre-foreclosure, there are several ways. They include, note buying, short sales, and providing services to those at risks of foreclosure. As to how to do each, that's a bigger lesson than I can post here. You are better off learning which ever method you wish to work with. I run a real estate seminar list. You might find one that suits you. Also, be aware that foreclosure investing is also rehab investing. You will rarely find a foreclosure that doesn't need, at least minor rehab. Especially in today's market when buyers are looking for upgrades.

Q&A Powered by:
Powered by Yedda 

Latest Real Estate Articles

A Checklist For Acquiring A Waterfront Property
By: Martin Webbster | 15/10/2008
The real estate industry has been a profitable industry and much so these days. The market is experiencing a boom today and many investors have therefore been on the search for a lucrative sector of the industry to invest in. Many homeowners especially the smart ones are now diversifying their...

Important Things You Should Know Before Buying Rural Real Estate
By: Martin Webbster | 15/10/2008
Rural real estate holds a lot of attractions for the investor. Interest in this type of property has risen of late and many buyers have now become eager to get apiece of once disregarded area. This surge in interest has introduced a lot of dynamics into the countryside property market. Many...

Why is Cyprus Such a Great Investment Opportunity?
By: Hannah Walker | 15/10/2008
The wheels of reconciliation have been set in motion as determined peace talks begun at the beginning of September '08 to once more attempt a reunification between the north and south of Cyprus. Since the Turkish invasion in 1974, Cyprus has remained divided and dominated by hostility. Now, despite the...

Cyprus: A Backdrop to Your Investment
By: Hannah Walker | 15/10/2008
With the recent peace talks underway and reunification on the horizon, even more people will be encouraged to invest in Cyprus, the largest island in the Mediterranean, situated south of Turkey and East of Greece. The Cyprian economy is set to soar after peace is made between the northern Turkish...

Lease Commercial Property London
By: Matt Grimes | 15/10/2008
Leasing commercial property in London is a whole different ball game from leasing commercial property in other areas of the United Kingdom.

Why Buying Smaller is Better
By: Keith Cook | 15/10/2008
However, the fact remains that many of these foreclosures come from people taking out huge adjustable mortgages on huge homes with an inadequate income to deal with the interest. Once the interest rates changed, those people could not hope to afford the payments. It could all have been avoided with the purchase of a more modest home and a fixed-rate mortgage.

A New Home Gives Space to Blending Families
By: Keith Cook | 15/10/2008
For children, home is a symbol for survival and nurturing. Their roots are there, their friends are there, and their favorite play spots are there. Moving can be a very emotional experience for children as they must say goodbye to the base that they've had all their life.

Omaha, Nebraska Flat Fee MLS
By: Donald Plunkett | 15/10/2008
You have a million different choices when it comes to listing your home in Omaha. There are big name and boutique brokerages of all shapes and sizes: CBSHOME Real Estate, NP Dodge, Coldwell Banker, Remax, Prudential, Deeb Realty, Century 21, and many others. Some have just a few...

More from Shaun Greer

Sell A House In A Slow Real Estate Market
By: Shaun Greer | 02/10/2008 | Real Estate
There are many ways to sell houses even in a slow market. The best way to sell your house quick is to find the right buyer for your house.

How to Buy a Home in an Unstable Market
By: Shaun Greer | 02/10/2008 | Real Estate
Use these tips and advice when buying a home.

We Buy House Professionals Taking Advantage Of The Slow Real Estate Market
By: Shaun Greer | 20/08/2008 | Real Estate
Real estate investors are buying houses while other home buyers are sitting on the side lines

How To Sell My House In Houston Texas
By: Shaun Greer | 12/08/2008 | Real Estate
Although there is good news if you are a home owner in Houston, 0.8 percent is not much of an increase and if you purchased your house at the peak of the real estate market you can be sure that this slight increase has not had much affect in your home value.

The Fight Over Mortgage Rules
By: Shaun Greer | 08/08/2008 | Mortgage
Should regulations be put on the mortgage industry to provide a stable and profitable real estate market?

The Trouble with Mortgages
By: Shaun Greer | 07/08/2008 | Real Estate
Mortgages are becoming more difficult for home buyers to obtain

The Pain of Home Over-Improvement
By: Shaun Greer | 07/08/2008 | Real Estate
Home sellers beware of upgrades you make to help sell your home

Smart Real Estate Improvements - Windows
By: Shaun Greer | 04/08/2008 | Real Estate
Pro's and Con's of upgrading to double-pane windows

Article Categories






Give Feedback

Sign up for our email newsletter

Receive updates, enter your email below