We told our tenants we were foreclosing on our rental property and they sent me a money order for the rent. I called them and told them to stop paying and one told me they were not going to stop paying because they are afraid i would kick them out. Do I cash the money order, send it back? The bank has not contacted me yet. I basically have not told the bank anything yet. I was going to let things take its own course and wait for them to start sending my late payment bills......what do I need to do?
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Did you assure them that you will not kick them out? -
I told them I would not kick them out but once the bank took over, I was not in control. I also told them that they did not need to pay me anymore because I was not going to pay my mortgage paymentComment
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That is very nice of you. Just cash all their payments and then on their last day there pay them back.Originally posted by mintz View PostComment
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I guess think of it from their point of view... There are laws in place to protect renters and if they keep paying their rent and the bank takes possession it would be harder for them to get kicked out if they show they have always paid their rent.Comment
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Oh no - once the foreclosure goes through renters are evicted. There are horror stories in the news about renters coming home , finding all their belongings out on the sidewalk and the house padlocked.Originally posted by ansky0007 View PostComment
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should I pay them back or deposit the funds?Comment
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