I want to contact the mortage co.that is foreclosing on my landlords property.I want to pay my rent directly t

Question

to them .Maybe at a discounted rate

Answer 1

I think that it is a good idea for you to contact the bank. The bank could be the new owners if they take the property back in the foreclosure.

What this will do is at least give you an estimate of the amount of time that you have left before you have to move out of the property.

I do also recommend that you start looking for a new place. You do not want to let your landlord's problems become your problems.

Answer 2

The lender has no right to the rents you are paying, and is not going to get involved in rents until it takes ownership via the foreclosure. You are legally bound to pay the full amount of your rent to your current landlord until you hear otherwise from a new owner.

Answer 3

You can't. Banks do not handle rentals and once they start the foreclosure process you will be REQUIRED to move out. They do not have insurance to cover rentals and will try to limit their risks to lawsuits so I have NEVER heard of a bank accepting rent for a lease they did not write, do not have a copy of, and can't enforce since they are not even LEGAL owner of the property until AFTER the foreclosure sale happens.
Getting a "reduced" rate is wishful thinking.

Answer 4

You can't pay the bank. They can not legally accept money form you. Until the foreclosure is complete you need to pay your landlord, your contract is valid.

Once the foreclosure is final (he may save it yet) then you need to move out within 30 days. They are not allowed to become landlords and rent to you. The house has to be vacated and put up for sale.

Answer 5

The lender won't take the rent. The lender is foreclosing on the entire property. Start packing & boxing things now.