Another Financially $trapped Landlord Cuts His Losses; Pockets Rent & Stiffs Bank

Tenants of landlord Rudy De La Cruz of Los Angeles have been rudely surprised recently, according to a story by KBAK-TV Channel 29 in Bakersfield, California. Tenants in two of De La Cruz' rental homes have recently discovered that, despite paying their rent every month, De La Cruz has been stiffing the lenders holding the mortgages on his properties. Moving from the homes is in the immediate horizon for them. For more, see Renters surprised by foreclosure notice.

Go here for stories of other landlords facing foreclosure cutting their losses by stopping the morgage payments while continuing to pocket the tenant rentals, go here and go here, and go here.

The California statute addressing rent skimming (aka equity skimming) and can be found at Section 890 through Section 894 of the California Civil Code. unwittingly epsilon