foreclosure

Posted by michael on August 31, 2005 at 05:52:15:

I currently live in Phoenix AZ, in what I thought would be a stable rental property. The owner who lived in the house before me move out of state we agreed on a month tomonth rental agreement. However quite by mistake I foundout he has not made a payment on the property since May 1. My family and I have lived here since April 1. The bank sent a letter to the house stating
they intend to foreclose on the property on Sept. 1
if the payments are not caught up. The owner's
mother told me it is none of my business how they
spend the rental money. How long do I have before
the property goes on the auction block? Can I put in
a bid or work out some type of agreement with the new
owner? And do I have to continue to pay these stupid
people once the property is in foreclosure?

Follow Ups:

• Re: foreclosure - Sharon 07:27:50 08/31/05 (0)

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Comments:
: I currently live in Phoenix AZ, in what I thought would be a stable rental property. The owner who lived in the house before me move out of state we agreed on a month tomonth rental agreement. However quite by mistake I foundout he has not made a payment on the property since May 1. My family and I have lived here since April 1. The bank sent a letter to the house stating
: they intend to foreclose on the property on Sept. 1
: if the payments are not caught up. The owner's 
: mother told me it is none of my business how they
: spend the rental money. How long do I have before
: the property goes on the auction block? Can I put in
: a bid or work out some type of agreement with the new
: owner? And do I have to continue to pay these stupid
: people once the property is in foreclosure?


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