Home foreclosures have become a big part of the financial news in the last few years. Millions of Americans are facing the problem of being unable to make their mortgage payments. Vivix Credit Solutions understands the trouble a foreclosure can cause and will give you a free consultation to help you determine how a foreclosure may be affecting your credit score. Vivix Credit Solutions is also a company that can help you repair that number.

What if it isn’t your home that is in foreclosure? What if you are a renter and you suspect your property is in trouble? Vivix Credit Solutions may be able to help your landlord, but you also need to look out for your own interests. If the house or apartment in a building you are thinking of renting is facing foreclosure, you have certain rights, but it is crucial that you know what they are. Depending on the state you are in, your tenancy may or may not be terminated by foreclosure.

Before you get yourself into a mess with a property facing foreclosure, look out for certain signs and then find out for sure before signing a lease.

    Inspect the property and look for signs of neglect. If the landlord is struggling to make mortgage payments, most likely he is not paying for repairs or maintenance either.
    Talk to other renters. If you’re looking at an apartment building, knock on a few doors. Find out if the landlord is making their repairs and responding to their maintenance requests. Ask the renters if they have any suspicions that their building is in trouble.
    Look for legal notices. In many states, landlords are required to notify tenants of an upcoming foreclosure. Ask renters if they have received any such notice. Also check the local newspaper, which will run notices of foreclosures.
    If your searching leaves you suspicious that foreclosure is a definite possibility, confirm it by checking public records. A foreclosure is considered to be the same thing as a home sale, so there should be a record of it. Check with the county’s register of deeds. If a foreclosure has not yet happened there will be no record. If taxes have not been paid, however, there will be a record of the delinquency with the tax assessor.

Be very careful when renting a property in today’s economic client. Too many people are facing foreclosures and if you have been careful with your credit, you want to stay out of the mess. If you have been affected by a foreclosure, you can turn to Vivix Credit Solutions to help repair your resulting credit score.

If you have already signed a lease and then found out that the property is in or close to being in foreclosure, Vivix Credit Solutions may be able to help your landlord, but you will need to find a solution for yourself as well. One possibility is to purchase the foreclosed property. There is a chance that you could get it for a great price and make mortgage payments that equal or are less than your rental payments. Contact the bank as soon as possible to indicate your interest in purchasing the property. Be sure to check your credit and get pre-approved for a mortgage to show the bank that you are serious about making the purchase. If you run into trouble with your credit score and your ability to get approved for a loan, contact Vivix Credit Solutions for help.