Too many times in this current market, a renter is faithfully paying their monthly rent and gets shocked and surprised when they learn their landlord has not been paying his mortgage payments and the renter will soon be on the street. A new resource is now available for renters to log onto and check what is happening with their landlords and if the landlords are paying their mortgage.
It is safe to say that a landlord is not likely to tell their renter that they are on the verge of foreclosing. For many of the renters who have been put out on the street with no warning, they may have put up a deposit and, or a first and last month’s rent only to have that lost when the home they are renting is foreclosed on.
NetValueCentral has a new service called AzNVC. Prospective tenants can go to www.aznvc.com and register their e-mail along with the address of the property they are considering renting. People can check up to 20 rental properties each month. NetvalueCentral offers an annual e-mail update on the properties as well as other real-estate property records for a small fee.
All the talk about new Federal housing plans to help people avoid foreclosures will not help investors, so it is expected that foreclosures among investment property will continue to rise.