| Something very interesting with regards to real | | | | For example, most states have property records |
| estate, but unbeknownst to most renters of homes | | | | available for view right on the Internet. From there, |
| or apartments, is that renters must be very aware | | | | the renter can often find all sorts of good stuff, like |
| of exactly what they are getting themselves into | | | | the mortgage amount owed on the property, the |
| when they sign a lease contract. | | | | tax records, and the date the property was |
| Due to the high rate of foreclosures these days, | | | | purchased. Many properties were purchased in the |
| many apartment buildings, as well as homes are being | | | | past few years with the help of unscrupulous |
| foreclosed, and the owners of those properties | | | | mortgage brokers and lenders, by investors who |
| abdicate responsibility to the building or its tenants | | | | couldn't really afford their purchases, but were able |
| upon foreclosure. So what happens if you are a | | | | to close the deals by giving sub-prime mortgages to |
| renter, and you signed a long-term lease, and | | | | the lender. |
| subsequently the owner undergoes foreclosure? | | | | As the adjustable interest rate on those mortgages |
| You may end up losing your security deposit, and | | | | climbed, many owners found, and are finding |
| your last month's rent, and you may be forced to | | | | themselves unable to pay their mortgage loans, and |
| evacuate the apartment with very little notice, unless | | | | of course the result is foreclosure. The innocent and |
| you are careful to take the right steps. Therefore let | | | | uninformed renter can be left with no place to live, |
| the renter beware, and research the status of the | | | | and a loss of the equivalent of two month's rent. |
| space he/she/they are about to occupy. Is the | | | | Therefore, a renter should research all of the readily |
| landlord solvent? Are the mortgage payments up to | | | | available information before signing a lease |
| date? Have the property taxes been paid? These | | | | agreement. For more information, visit Miami real |
| questions can be answered more easily than a renter | | | | estate or the Miami Beach real estate blog. |
| may think. | | | | |