My landlord never told me he is having problems paying his mortgage on this place I am renting. I just found a notice of default from last week in my mailbox. We pulled the property records and sure enough, it went into default last week!
I am worried about getting my deposit back from my landlord, can I just tell him I'm not paying next month's rent and he can keep my security deposit? How long do I have before I ge evictied because of this deadbeat landlord?
2007-12-21 12:50:35 · 3 answers · asked by Kenny the Jet 2 in Business & Finance ➔ Renting & Real Estate
I have lived in apartments for 26 years - most of my adult life. If you received a notice of default, you should probably start looking for another apartment now while there is still time. If you happen to find one, you should just move. You can probably forget your security deposit because if the landlord isn't paying the mortgage, then he probably doesn't have your deposit either. So, make next month your last one and move as soon as you can.
An alternative is to get in touch with a representative from the bank that holds the mortgage & explain that you are a tenant and the current circumstances. Then ask the rep: if the building goes into foreclosure, who would you pay the rent to? Try to get all the info you can because if the bank forcloses on the building, your landlord might still try to soak you for rent. Find out what your rights are under this type of situation.
Good luck...I hope it all works out in your favor.
2007-12-21 13:03:50 · answer #1 · answered by Paul L 7 · 1⤊ 0⤋
I'm sorry to hear that you are in this situation. This is an awful place to be as a renter. If you don't pay the rent the landlord can evict you. If you do pay the rent and the bank forecloses, the bank will evict you with little or no notice. The proverbial "rock and a hard place"!
good luck
2007-12-21 22:01:06 · answer #2 · answered by jimmy dean 3 · 1⤊ 0⤋
A notice of default is no excuse for YOU to withhold any rents. You are obligated to pay rents as agreed until the ownership is transferred to another owner. None of the rules or obligations which your lease controls changes until there is new ownership.
2007-12-22 00:24:19 · answer #3 · answered by acermill 7 · 0⤊ 0⤋