Mariana Wagner

Colorado Springs Renters Beware – Make Sure Your Landlord is Paying Their Mortgage or YOU Could Be Homeless!

Some landlords are letting their rental
homes fall into foreclosure.

UPDATE 7/3/09 – READ: New Law Protects You, as a Tenant, if You Are Renting a Colorado Springs Home that is in Foreclosure

If you rent one of the many Colorado Springs homes that are currently rented, you may want to make sure that your landlord is paying their mortgage. Across the country, renters who are paying their rent on time are being evicted from their homes because their landlords are not paying their mortgage payments, and letting their properties fall into foreclosure. These people who were renting these homes come home after work one day to find all their belongings on the front curb, changed locks and no place to call home – all because their landlord quit paying their mortgage and never let their renters know that they would soon be homeless.

It’s horrible, but happening all over the nation right now.

Read Also: Sheriff tells deputies not to help in foreclosures

If you are currently renting a house (or live in a duplex, tri-plex or 4-plex) you may want to make sure that your home is not falling into foreclosure.

So, you may be asking …

“How do I check to see if my rental home is in foreclosure?”

The Colorado Springs Real Estate Connection – Wagner iTeam (we) have created a guide on how to find out if your rental home is in foreclosure, and what to do if it is, in 5 Easy Steps:

Step One: To see if your Colorado Springs home is in foreclosure visit the EL Paso County Public Trustee and click on “Foreclosure Search”:

Step Two: From there, scroll down and enter your street name into the address bar and click “Search”:

If you do not see your address on the next screen, then you are fine. No worries. However …

DON’T FREAK OUT IF YOU DO SEE
YOUR ADDRESS IN THE NEXT SCREEN.

If a property was ever a Colorado Springs foreclosure – even years ago, then it will show up on that next screen. If you DO see your address on the next screen, what you need to do is this:

• Click on the FC# Next to Your Address:

• On the following screen, click on “Basics”:

The next screen will have a sale date on it. If this date is BEFORE the date that you are checking it, you are safe. This just means that the home, at some point in the past, was in foreclosure.

If the date is in the future, then you need to act fast.

• First, contact your landlord and nicely ask them what their intentions are with the property. Remember, they are probably already under a lot of financial stress, so speak carefully. There is always the chance that they are going to catch up with their payments or sell the home to a new landlord before it forecloses. But YOU need to be proactive about this. If you just sit and wait for the home to foreclose, then you could be HOMELESS the minute the home sells at foreclosure… if not before.**Even if your landlord SAYS that he/she has dealt with it, follow up with the El Paso County Public Trustee (by phone) right away to make sure. 719.520.6780
• Second, remind your landlord that it is a crime to accept rent payments from you and NOT make the mortgage payments.
• Finally, give your landlord notice that you will be looking for a new place to live. If you need assistance finding a new home to rent, please contact a property manager to help you with your search.

If you are concerned that your rental home may be going into foreclosure, please call a reputable real estate attorney ASAP: We recommend Jonathan Goodman  at 303.494.3000

UPDATE 7/3/09 – READ: New Law Protects You, as a Tenant, if You Are Renting a Colorado Springs Home that is in Foreclosure

October 9th, 2008 by Mariana Wagner | 4 Comments »

This entry was posted on Thursday, October 9th, 2008 at 9:52 am and is filed under Foreclosure Information. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Jim said at April 30th, 2009 at 5:14 pm

   I am currently in a rental that belongs to an CA investor that owns two rentals in Colo Springs. I began receiving mail from an attorny’s office in February, 09 about default on the rental I am in. I alerted the property management company about the default. I have attempted to contact the management company several times for information about the default. They don’t have the courtesy to keep me informed. The rental finally made the El Paso Trustee site last month with an NED recorded. I ahve continued to make the monthly payment as required by our contract but am frustrated that they aren’t making the mortgage payments. I ahve two months left on the lease but am scheduled to close on a home in two weeks. Should I continue to make the rental payments knowing that the rental will be foreclosed? You mentioned that there may be a crime involved for taking my money. What is it? Are there any ethical violations on the part of the mangement company?

2. Tarrah said at June 25th, 2009 at 11:33 am

   I am in the same situation- They have listed the house for sale, but it hasn’t shown at all. The trustee says no contact has been made. The Property Manager keeps telling me I have to pay them “or else”, but I just want to move out- it is too stressful. Do I have any rights?

3. Mariana said at June 26th, 2009 at 7:27 pm

   Tarrah,
   I would contact a real estate attorney ASAP. Jonathan Goodman 303.494.3000 They can tell you what your options are, as a tenant. Make sure you explain the entire situation. Good Luck.

4. banks said at November 24th, 2011 at 11:06 pm

   banks…

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