I believe that's summed up in the phrase, "the renter has no rights which can be enforced in court, and the landlord has no obligations which can be enforced in court."  Sadly, if I read you correctly, you broke the contract, not they.

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You are engaged in the only course which might bring you some money--make the publicity so bad (while remaining truthful) that they pay you to shut up.  But as you mentioned, GMAC's a big corporation.   In the current real estate situation they won't notice any downside to bad publicity. 

Our house was the one foreclosed on mentioned in this article; the bank that promised us cash for keys said they would pay us on the day we vacate but the contract they sent said they would pay 15 - 20 days after we moved.  I felt backed into a corner and signed the contract anyway at the last minute since they would not return any of my phone calls.  A family friend who is an attorney attempted calling them several times as well.  We needed a little more time to move out, I am disabled and my husband works and goes to school.   The bank offered us 3K to be out in 2 weeks, impossible; We had been in the house for 5 years; that is a lot of stuff to move, so we agreed on 1 K to be out in 30 days.   I revoked the contract on the advice from Ms. Vining, the attorney giving the seminar for renters in the foreclosure crisis, so that we could have more time.   NO RESPONSE  We were out only 4 days after the date we had agreed upon and left the place spotless; so clean, it is already on the market.   GMAC saved a bundle not having to clean it up or repair anything.  The "Cash For Keys" program failed us.....we are staying with family and are out all the relocation money we have spent.  I realize that renting is a risk; but after caring for a place using our own cash etc. for 5 years; I want justice !!  The landlord is a Department Head of Accounting at Paramount Studios, what kind of accountant would let this happen ??  She didn't even have the decency to notify us that there was a problem, the house has been in foreclosure since 10/07.  We found out when Caldwell Banker started wanting to put the place on the market in February.  I wanted to talk to a real estate attorney, but they have a consultation fee of $250.00.....if we could afford that, we probably would not be renters in the first place.  GMAC (General Motors) is a large company; they can afford to pay us the 1K that was promised......I feel we deserve the 3K they offered in the first place.  I am moving on with my life; but the anger, hurt, dismay etc. etc. resurfaces.  Anyone out there who got screwed as well and are thinking about a class action suit???  Any attorney's willing to help ??

P.S.  My husband cursed the property and anyone who makes a profit from our loss !!!

Mimi McCarley

 Renting from a "good" landlord" is probably less of a headache than owning.   It seems that something needs fixing every month on our house.   

On the plus side of owning, you can rip everything out and start over if you don't like the way the house looks (money and husband permitting of course). 

 Apartments are safer, no doubt about that, but for the risk involved in renting a house you gain privacy, abilitity in some to have pets and, God help you, the joys/burden of yard work.    There are advantages and disadvantages either way.

edited...I wasn't tempted at any time to jump into the sub prime mess.  I had no desire to buy a vastly overpriced house no matter how low the interest went, and my Mamma didn't raise no fool about ARMS and interest only loans.  During that time I sat back and shook my head thinking how bad it was going to be when THOSE chickens came home to roost.

Renting has traditionally been a much cheaper option than owning in most markets.

However, one major disadvantage of renting is having no control over the disposition of the property which often results in being forced to vacate and move.

This is a large part of the reason many people bought homes and signed up for subprime mortgages with introductory teaser rates and drastically escalating interest of adjustable rate loans during the recent debacle.

Home ownership with accompanying "control" remains the American dream.

It's difficult to fault those otherwise unable to qualify for loans who jumped at the chance at home ownership when the subprime carrot was dangled.

Renters benefit from a soft housing market, but are often disadvantaged during home market upswings when lessors opt to cash out equity in properties which appreciated exponentially and new owners either wish to live in the homes or must raise rents to meet higher mortgages.

Unfortunately, there were probably many Bakersfield home renters uprooted during the recent market surge.

Apartments are generally safer havens for renters hoping to feel secure from dislocation for longer periods.

 Mwwwwhahahahaha..I'll never tell about the spell.

Being a single chickadee I found it easier, and cheaper to rent.  I also never wanted to be tied down too much.  Not to brag, but I'm a landpersons dream tenent.  I fix little things myself (a new toilet seat here for instance, wireless doorbell) and am never late with the rent.  I rarely call them or bother them unless it's very serious and have found if I keep a low profile they're less likely to raise the rent.  :-)

If I owned a house I'd be out the expense of a handyman as there are some t hings I just can't do and, being single, my resources are limited.  Right after I moved in here the furnace went out and the landlady put in a dual pack.  In the windstorm part of the roof blew off and she had the whole house re roofed.  Had it been my house, I would have to have come up with the money.   Unfortunately neither of the men in my life (son and grandson) are handymen.  They help with shurb tops I cant reach and things like that but not repairs.  When I sold my own rental in Tehachapi a few years ago,  I'd had enough of repairs and maintenance.

I've talked to a few single women who found renting to be better for them too.

Chicken bones huh?    Hmmmm...  Maybe a little extra insurance.  Hmmm.

 Nancy, has it been that long?  Wow.

Just between you and me, did you put the hoodoo on the place before you left?  Bury some chicken bones in the yard or something?  :)

I don't know rental law in the valley so I'm not a good guide but I never felt like making a rental my "home", though I have done some lovely paint jobs in my time.  :)

 Month to month tenancy is just that.  Month to month.  There is some recourse for renters where the landlord must help pay moving costs but you'd need to look up  the law on that.

Renting is always a risk.  After living in the same house for 9 years my landlord decided to sell.  That was almost a year and a half ago and the house is still for sale...and empty.  He's had it on and off the market over the last 16 months and doesn't seem to care if he sells it or not.  He started out at 269K and now it's at 199,900.  I'm so sad.  HA !   Pffffttt..sour grapes?  Nahhh..not me.

  Some cities have more protection for renters which essentially prohibit no-cause eviction except under certain strict guidelines (owner move in among others).  It works out fairly well in most cities and having been on both sides of the equation as a landlord and a renter, I think the rules are pretty good.

 Yep, this is happening to a friend of mine at the dog park.  He just moved here from LA four months ago.  Now he just got a 60 day notice from the property management company that the owner is in foreclosure.  He's in a panic about it....it doesn't seem fair now, does it?