2007-12-14 11:41:28 · 11 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Move
2007-12-14 11:43:31 · answer #1 · answered by Trev 6 · 1⤊ 0⤋
Nothing. Stop paying rent. Wait for foreclosure. Wait to get evicted, don't move. When you go to court for eviction tell em you need 2 months to leave, they, the lender's counsel will go for it. You should get several months of free living. Don't leave, without a proper eviction.
That is crazy to pay the dead beat landlord that doesn't pay the mortgage, bad advice in my opinion.
OK, I just re-read all the other posts they are clueless. Did you know the lender who forecloses is scared of you?????? Yes, they are afraid you will trash the place, they are afraid you will sue them if they do not do a proper eviction, they are afraid if you leave stuff after an eviction they will have to store it or face a potential lawsuit for damaging your stuff. You have power, don't cower. You as a tenant are entitled to the due process of law, so you cannot be forced to leave until a proper eviction is done. It is done after the foreclosure and typically they have to provide 30 days notice, then it takes a couple weeks to go to court, important you go to court, at court you ask for time and ask them to waive any arreage for rent. The lender's counsel just wants possession of the house, so they can sell it, they will not be chasing you for rent money. I have known people that have lived for almost a year rent free while all this legal process is going on. Right now the lenders, courts, attorneys are flooded so people don't always file right away and it can be a slow process. You could end up living there for 4-12 months rent free before you have to leave. Your current landlord might try to play you, but if he is really getting foreclosed upon, he is hosed and I would just blow em off, he would have to file an eviction to get rid of you, which requires an attorney a lot of times, which he cannot afford, his world is crumbling around him anyhow, and once it is foreclosed he can't evict you anyway because he doesn't own it.
Note: The laws vary state by state. Also, if your landlord does pay the mortgage he can stop the foreclosure. I certainly would not pay him until he showed me a mortgage statement showing he paid the arrearage and is current. You can also contact th elaw firm doing the foreclosure to see when the auction date will be and track it to see if landlord gets it removed from an auction date. The landlord could also file Bankruptcy which would add a twist. Dang, I did not think I would write this much.
2007-12-14 15:53:51 · answer #2 · answered by stephen t 5 · 0⤊ 0⤋
If the home you are renting from the owner and it is in default you would need to move any way. I would look today for a new home to rent starting today. If they forclose on the home you would be forced to move out once the bank takes it back.
2007-12-14 11:47:24 · answer #3 · answered by Big Deal Maker 7 · 0⤊ 0⤋
you probable won't get your cash back, yet i'd report a lis pendens at latest (right this moment) to guard what you're owed. the 1st lender would get the abode at foreclosures sale the next day, yet once you have a recorded pastime, you ought to purchase the abode after the final leinholder. it could (I repeat would) supply you the choice to purchase the abode at plenty under it is well worth. See a Realtor for suggestion and go from there. ultimate of success to you.
2016-11-03 07:31:50 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Keep paying your rent on time. Foreclosures can take some time.
When the lender takes over the property, they will likely evict you and you won't have much notice. Be prepared to move.
2007-12-14 11:56:56 · answer #5 · answered by Dan H 7 · 0⤊ 0⤋
Are you in a position to BUY the house? It is for sale, even if your current landlord doesn't know it yet. If not, your options are to ask the next owner to continue renting to you or find someplace else to live.
2007-12-14 11:50:14 · answer #6 · answered by STEVEN F 7 · 0⤊ 0⤋
Because it is going into foreclosure does not mean it is going to foreclose. Contact the landlord and find out what the intention is. If he/she is going to let it go, start looking for a place to live.
Going into foreclosure or foreclosing does not absolve you of paying the rent.
2007-12-14 12:25:06 · answer #7 · answered by godged 7 · 0⤊ 0⤋
I would contact the landlord first, but also start looking for a new place, usually the bank will offer the current occupant cash for keys, usually around $500.
2007-12-14 13:23:38 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Have you considered trying to buy it? Contact the lender or foreclosure agent and see if you can work something out. Believe me, that lender does not want to own that property. They will work with you if you can qualify for a loan.
2007-12-14 11:48:18 · answer #9 · answered by artwhiterealtor 3 · 0⤊ 0⤋
are you renting the house from a landlord or are you renting out a house that you have a mortgage on?
2007-12-14 11:44:56 · answer #10 · answered by azuredreamz 5 · 0⤊ 1⤋