Ok to keep it short story, we are renting a house from a rental company. The owner just got the house repossesd for not paying mortage loans. We have to be out by Nov 1st. We have heard that since the rental company knows now what is going on. That they cant accpet monthly rent payments??? Is this true, because I just need to know if I need to stop paying rent now?? And if this is true do I stop paying and get my deposit back? Because the rental company already said that we would get our deposit back. And if I dont pay can it hurt my credit?? I am just really wondering if that is true about them not being able to accept monthly payments?????PLEASE HELP!!!
2007-09-10 15:58:33 · 3 answers · asked by happygirl22 3 in Business & Finance ➔ Renting & Real Estate
Now that the home has been foreclosed upon their is a new owner, most likely the bank or mortgage lender that foreclosed the mortgage. They will be in touch with instructions as to where to start paying the rent. If you have a lease dated prior to the filing of the foreclosure action it will continue in full force and effect until its expiration date.
2007-09-10 16:23:49 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
call the rental company, and ask them if you need to pay the rent or not. if they indicate no...please ask them to put that in writing for you. Also inquire as to how soon after you move out will yu receive your deposit.
take a deep breath...you still have time :)
good luck :)
2007-09-10 23:08:28 · answer #2 · answered by Blue October 6 · 0⤊ 0⤋
Hi,
Yes, it's better to pay the rent to avoid any complications in future. Checkout http://realestateguide.financialdealsonline.info for some valuable tips on the matter. Good luck.
2007-09-10 23:06:14 · answer #3 · answered by Anonymous · 1⤊ 0⤋