So I'm living in a house that is now apparently the bank's because it got taken away from the owner.. What are my options? Can I stay and just pay rent to the bank or how long of a notice do they have to give me to move out? I'm happy here and didnt do anything wrong..
2007-11-30 07:48:13 · 5 answers · asked by Simone K 1 in Politics & Government ➔ Law & Ethics
You should call the bank right away to see what their intent is.
The bank will probably let you stay until the house is sold. The new owner will then determine how long you stay.
I'm sure they will give you plenty of notice.
2007-11-30 07:52:09 · answer #1 · answered by trooper3316 7 · 0⤊ 0⤋
With the housing market in the toilet you can probably negotiate monthly terms with the bank. The bank will probably turn the managment of the property to a licensed property mgmt. company and you will deal with them directly.
I wouldn't worry too much about being evicted or the house being sold to someone else at this point until the economy turns around.
2007-11-30 15:57:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You can stay until they or the next owner tell you to leave. They are required to give you notice if they want you to move out, the exact amount is determined by state law. It tends to be 20 - 30 days.
2007-11-30 15:52:26 · answer #3 · answered by davidmi711 7 · 0⤊ 0⤋
Someone will contact you.. and no you cannot make payments to the bank. Your rent home is in a forecloser and it will be the property of the bank to have done what they want to do with it......... in the meantime you should look at moving out.
2007-11-30 15:56:48 · answer #4 · answered by leapfrog44 5 · 0⤊ 1⤋
You will be evicted or you can see if you can work out arrangements with the bank to leave without being evicted and they will sell the house to someone else.
2007-11-30 15:53:24 · answer #5 · answered by lahockeyg 5 · 0⤊ 0⤋