The North Carolina Bankruptcy Information Blog

Amid the lingering housing crisis, full of fraudulent foreclosures and missed mortgage modifications, many disenfranchised Americans have turned to renting to keep a roof over their heads, and their heads above financial water.  Yet, even in a period where renting can be financially friendlier than owning,  conscientious and reasonable renters continue to face this tough economy head-on…in the form of foreclosure notices?

That’s right. According to a recent report by AOL’s DailyFinance, even renters are being threatened by the meteoric rise in foreclosures with lenders actually tacking eviction notices to their rental doors.  “At the start of the recession, reports of renters being blindsided by foreclosure notices were not unusual.…

In this underwater housing market, the old adage that renting a home is the same as throwing your money away can be grossly inaccurate. In many cities, from San Francisco to Dallas to New York, “price to rent” ratios make leasing property a no-brainer. But now, even smaller cities like Omaha, Oklahoma City and Kansas City appear on top ten lists of places better to rent than own.

Yet, even in a period where renting can be financially friendlier than owning, many renters continue to face this tough economy head-on, with no chance of home equity to afford them a substantial bailout.…

Can your landlord evict you if you declare bankruptcy? That depends on the circumstances. If you’re not behind on your rent, your landlord may never have to know about your bankruptcy. As long as you keep paying your rent, it’s not really his business. A landlord can’t evict you just because you filed for bankruptcy.

If you are behind on your rent, however, the landlord is in a different position. If he’s already completed the proceedings for eviction, the landlord can proceed to evict you, despite the bankruptcy. Some states do not allow you to challenge this procedure. In states where you can challenge it, the proceedings are fairly onerous: you must file a paper stating that state law gives you the right to tenancy if you pay all the back rent, and immediately pay any current rent that is due.…