Legal Question in Landlord & Tenant Law in California

Re: my rental is foreclosing

You haven't give me enough facts, but I am assuming that your house (rental) is foreclosing and the bank is the one foreclosing.

Whatever you have heard (as to hardship) has nothing to do with the law. Banks, and others foreclosing. will sometimes pay "cash for keys", as they are doing here. A lot of the offers are never paid, so be careful that you get it in writing, so you don't get cheated, and make sure it is a bank you know of and is legitimate.

However, my understanding is that the going rate is $1,500 and some are willing to pay a lot more (apparently up to $6,000.

The reason is that houses, especially in Southern California, are selling very slowly, and the banks want to get foreclosed homes on the market ASAP.

If you need more help, please e-mail my office.

Good luck!

Re: my rental is foreclosing

Negotiate with the bank. Tell them that $700 is not nearly enough and give them a number that you believe will compensate you for a quick move-out, a deposit for a new place, moving van, etc.

Remember, it will cost at least $500 for them to hire a lawyer, another $180 for the court filing fee, and much delay if you don't leave quickly.