Landlord is foreclosing, what do I do as a renter?

[isla1]

Someone was taking pictures of my condo today. Iasked what he was doing, he said that he is taking pictures of a property in foreclosure. I paid my rent this month for August. What in the world do I do now to protect myself? Thanks in advance!

[jimbo367]

The owner can rent until he loses title or the hammer goes down, relax

[isla1]

Do I still have to pay rent if the landlord is in foreclosure,Will I get my deposit back? And should I start shopping around for somwhere else to live? Thanks Jimbo! But how can I relax if I don't know what to expect.

[justbroke]

Do I still have to pay rent if the landlord is in foreclosure,Will I get my deposit back? And should I start shopping around for somwhere else to live? Thanks Jimbo! But how can I relax if I don't know what to expect.

Yes, you need to pay them or they can actually evict you. The only way to really protect yourself is to move and not be part of the uncertainty. In most States (and especially major cities), the landlord-tenant laws will not allow the new purchaser (or bank) to evict you when you have a valid lease. You may still want to seek a new place to live in the interim.

Again, with respect to landlord-tenancy laws, your deposit may be protected. Most States require that deposits are held in an escrow account or separate banking account and that the deposit must be returned upon foreclosure. Even if the place is sold and the new landlord takes over, they can't require a deposit from you and MUST return your deposit at the end of your lease, unless you have damaged the place or for other reasons allowed under your State's/City/County's landlord-tenancy laws.

Now, foreclosures usually take some time. How much longer is on your lease?

[Pjmax]

Hi, Isla. I found this article that might help. I'm sorry, I know this is stressful for you. I wish I could help.

http://www.nolo.com/legal-encycloped...eir-30064.html

[jimbo367]

U need to know how far along the FC is, go to the clerks office and check.

Taking pics can be the beginning of the process or end hard to say.

U can stop paying but if U do that bank the money, don't spend it, if you get an notice from the owner for non payment, try to work it out.

Can U call the landlord/owner?

Until you figure it out stop paying for the moment, if it's at the end you may lose the deposit or have a long wait to get it back.

If it was me stop until you get more info.

Read that Nolo link above, good stuff

[isla1]

I called my landlord today and he says he is in a big nasty bankruptsy but it will not affect his rental property. He wanted to know who was takling pictures? Anyway I will still check with the Clerk! Anymore advice would be appreciated. I had a one year lease that was ended last November. landlord never called me and I never called him. On the lease Under Termination it says, Tenant must give landlord 60 days notice as to renewal of lease. If tenate doesn't give 60 days notice in writing as to intent to vacate the premises, the lease will automatically extend for an additional term ....... so I'm not sure if I'm still under the lease or not.

[Pjmax]

Isla, according to the Nolo article above, even if you are on a month-to-month basis, you are still entitled to a 90-day notice before you must vacate, whether your current landlord hangs onto the property or a bank takes over. If you do receive that notice, personally, I would not pay any further rent because it may be difficult to get your deposit back.

I'm not one of the resident experts, just passing on what I read.

[frogger]

I called my landlord today and he says he is in a big nasty bankruptsy but it will not affect his rental property.

Check him out on PACER and find out what's going on with his bankruptcy.

[isla1]

Don't I need his case number??

[sh1035]

Even if it does go to foreclosure you have at least 90 days from the sale. I would hold out I know someone that actually got cash for keys in the amount of 3k to move within 30 days.

[justbroke]

Don't I need his case number??

No. You can look up by first and last name. I highly suggest you put in BOTH the first and last name!

[ValleYum]

It is a Federal law that you get at least 90 days notice before you can be evicted after a foreclosure sale IF you are a bona-fide residential tenant. GOOGLE: Protecting Tenants at Foreclosure Act of 2009

Good luck!

[isla1]

OK going to try it!

[isla1]

Found it! It looks like his exwife is putting a lien on some property. Don't know if its this property, or his other proprty at the lake. And he has in furn filed bankruptsy and no adresses mentioned. But he has a meeting of creditors in late August. So I'll stay on top of it. Wish I could decipher all of the legaleez! It could be this property. But at least he's still in the middle of his BK case. Thanks Justbroke for suggesting Pacer. and thanks to everyone else. Have a great weekend. I'll be back with more later!