Re: Renting a home that may be foreclosed
Posted by steele in minnesota on June 29, 2008 at 13:49:33:
In Reply to: Renting a home that may be foreclosed
Posted by Kim on June 29, 2008 at 08:03:13:
As I understand it,you have no recourse at this point. The owner still owns the property and you have a lease to pay rent. As long as you are there, you owe the rent. And you are getting the use of the property for your money, right?
But you might want to find out just where all of this is going. You may need a new place to live.
The foreclosure process does take a while so you could be "safe" for a few months. But know that if the bank does take it back they will ask you to leave about 98% of the time. They want it vacant in order to resell.
I would ask the landlord direct. No harm in that. But you can't withhold rent just because you don't think he is paying his mortgage.
Contract don't work that way.
Steele
Follow Ups:
- Re: Renting a home that may be foreclosed - BooKooGuru 09:31:58 07/05/08
(1)
- Re: Renting a home that may be foreclosed - Jayhawk 21:38:13 07/13/08
(0)
