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