Re: pre-foreclosure question
Posted by Julio Martinez-Clark on February 28, 2008 at 11:08:19:
In Reply to: Re: pre-foreclosure question
Posted by Sylvia A Chason on February 28, 2008 at 10:57:38:
Sylvia,
Yours is a common issue nowadays. You have a contractual obligation to pay your rent to your landlord. If you stop paying rent, the landlord has the right to evict you and/or get a judgment against you and seize your assets for non payment of rent.
The fact that there are foreclosure proceedings against the property doesn't mean that the property will be sold at the auction (the landlord can stop the foreclosure at any time).
If you know about the foreclosure, then read your leas agreement/contract and see if you have a remedy in this specific situation. If the home is sold at the foreclosure auction before your lease expires, you could try to get monetary compensation from your landlord or file a lawsuit against the landlord for breach of contract if he doesn't agree to a voluntary compensation.
You could write a letter to your landlord (certified mail, return receipt), stating your concerns. There's really not much you can do about it at this moment other than being prepared for the property to be sold at public auction. This information is public records and the date of the auction will be available for you to see at any time from your County clerk of courts of sheriff's department (depending on who conducts foreclosure sales in your jurisdiction).
I hope this helps,
Julio Martinez-Clark
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