Can You Check to See If Landlord Is Paying Mortgage?

Updated on December 15, 2011
V.T. asks from McKinney, TX
7 answers

We are moving to the Virginia area and we decided to rent a house. After hearing stories of people paying their rent only to have their landlords be foreclosed on, I was wondering if there was a way to check if a landlord is current on their mortgage and paying it? Can I do this, is it legal? If I can do it, does anyone know how I would do it?

What can I do next?

  • Add yourAnswer own comment
  • Ask your own question Add Question
  • Join the Mamapedia community Mamapedia
  • as inappropriate
  • this with your friends

So What Happened?

I don't want access to their bank accounts. I don't care how much they pay, I just want to make sure they pay. When it comes to my soon to be family of 5, I think it is my business to know whether or not the home I rent will be foreclosed on or not. When the time comes I will ask the landlord for a notarized letter from their bank saying they are current. When I was a landlord I asked for proof of income to insure that my tenants could pay their rent, I don't see a big difference in asking a landlord if they could pay their mortgage especially when my home security depends on it. We are using a realtor to find us a place and most places we find are through realtors as well. I'm staying away from craigslist as too much is riding on this home.

More Answers

Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

G.H.

answers from Chicago on

Nope, but you can find out if their property taxes are being paid, just call the county & ask for the tax department, they just need the address of the property you will be renting. Just remember this is not a positive indicator if they are behind on their mortgage but if they are not up to date on property taxes then they are probably not up to date on their mortgage. You can also find out how many liens they have on the property. So if they have liens by the county/village for anything then that would also be a red flag.

I would also ask the Landlord if they are behind, not that they will be truthful.

5 moms found this helpful
Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

B.A.

answers from Chicago on

You can request from your potential landlord a notorized letter with the information of his mortgage allowing you to simply request the information of his mortgage company if he is up to date and on time with his monthly payments in the last 24 months of the mortgage. You can let him know that you don't need to know how much they pay, what the exact mortgage payment is, just if they are current and up to date. Also a contingency on the lease that if they refinance he must notify you and give you an updated amount. Contracts for rentals should be mutually beneficial to the renter and the owner of the property. This concern should also show you are responsible and want to make sure all I's are dotted and T's crossed. If this is an issue for him to release this small information, do not trust them and find someone willing to do this for you. In this age of a higher foreclosure rate and banks not always doing the appropriate path to secure their financial risks you cannot just take someones word for it. They will require you to sign a lease so you should also have some assurance they will do their part.

1 mom found this helpful
Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

G.B.

answers from Oklahoma City on

I don't know how this could be any of your business. It would be confidential information that is between him and his bank. It would be the same if someone wanted to get personal information about you at your bank.

1 mom found this helpful
Smallavatar-fefd015f3e6a23a79637b7ec8e9ddaa6

B..

answers from Dallas on

There is no way to check, I'm sorry to say.

1 mom found this helpful

N.N.

answers from Detroit on

It happened to us! so for the people who are saying that it is none of your business, they are wrong.
Try paying $900 a month for a year in rent establishing roots in the community and school only to come home one day with a note on your door.

That was an emotional situation that turned out to be a blessing! We were able to purchase the home.

I would pull the address up online and go from there. Technically it is not any of your business but when it comes to my family and our money I tend to stick my nose in a little further when I enter into an agreement because in this day in age people are in all kinds of situations and will do what ever.

As Jackie said I would ask for proof from the landlord and explain why.

K.M.

answers from Chicago on

You can, if you know people but then it's tricky there too. I had a scenario like that happen with us in the place we just moved into actually and due to my contacts I was able to verify SOME information and then asked the landlord to provide me with proof the payments were up to date and all was well in the end.
Oh and many banks will honor the rental agreement or work out a new deal with the tennant after they have taken over the property if they know it is or has become a rental property. Honestly, it is in their best interest to keep someone in/on the property until it is sold.

J.P.

answers from Lakeland on

You cannot access their account. If you are going to rent I would suggest going through a realtor. You only have to pay for the credit check, the landlord is responsible for paying the realtor.
Going through people privately is risky in this housing market. As a landlord myself you can request proof that they are current with their mortgage, but someone might be offended by it. I would just be honest with your concerns first, they may offer to show you.

For Updates and Special Promotions
Follow Us

Related Questions