Los Angeles, CA (PRWEB) June 28, 2008
Alarming numbers of would-be home renters sign expensive leases and rental agreements not knowing that the homes they are about to rent are already in foreclosure. Fortunately, people who are searching the classifieds for a rental home can take advantage of a new service and Web site - CheckForForeclosure.com, Giving Renters the Notice they Need - that provides access to inside information about potential landlords and lets would-be renters know if they are about to walk into a trap.
The newest tragic twist in the nationwide mortgage and housing crisis is creating havoc and distress for many unwary consumers. Very few people who shop for a rental home are even aware of the growing problem, and fewer still know how to protect themselves from signing up for a disaster when they go out to look for a rented or leased home, condo, or apartment. In some cases those who sign new leases are evicted within days of moving into a home or apartment - without refunds of payments or deposits.
CheckForForeclosure.com was created by knowledgeable real estate industry professionals to specifically address the needs of consumers who might otherwise become ensnared in the renters in foreclosure crisis. Some classified ad pages in foreclosure-prone cities are riddled with listings for rentals that are - although innocent consumers do not realize it - about to be repossessed by banks and mortgage companies. Unless someone shopping for an apartment or home rental has the ability to look beyond the advertising hype and spin and find out which rentals are dangerous, there is no way to pick the winners from the losers. Looking for a rental becomes a game of Russian roulette unless consumers take steps to get the information they need to make safe and informed choices.
Bankers and landlords are not required by law to disclose an imminent foreclosure to a renter, and real estate laws generally protect landlords and lenders while offering little help for victimized renters. That leaves renters to fend for themselves, so taking the time and making the effort to investigate the foreclosure filing status of a potential rental property is a wise investment and a good insurance policy against foreclosure rental headaches and heartaches. In today's treacherous housing environment, it pays to take full advantage of services like those offered by CheckForForeclosure.com to ensure peace of mind for one's family.