I am a renter of a property and i just received a letter staing that is in foreclosure what are my rights?
May 29, 2009 in
Financial and Loan Tips
pink55nell
Is the landlord responsible for anything on my part. I have paid my rent on time and a week in advance. I have all documentation regarding that. Can she save the property and get it out of foreclosure? Can i take her to court for anything?
Is the landlord responsible for anything on my part. I have paid my rent on time and a week in advance. I have all documentation regarding that. Can she save the property and get it out of foreclosure? Can i take her to court for anything?
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6 comments
acermill on May 31, 2009 at 7:57 am
Your situation is not a pretty one. If the property advances through foreclosure, your lease will not transfer to the new owners, which will probably be the lender involved. After completion of the foreclosure, you will probably be told you have thirty days tops to vacate the premises.
Meanwhile, any security deposit, if she does not return it, will not be the lender’s responsibility. You can take the landlord to small claims court for any monies due to you, including moving expenses (she did not fulfill her written lease, if there is one). However, if she cannot pay the mortgage, she probably does not have monies to pay your judgment either.
I have a dog... on June 3, 2009 at 4:24 pm
I would contact the bank, they may be willing to sell it to you for what she owes especially with your documentation. Call your sheriffs office and ask who you should be paying your rent to as well, she just broke any lease you had by the way. If anything I would ask her if she will refund your dep. if no, get it in writing you can stay rent free the rest of the time to make up for last months rent, deposit and to keep you from taking her to court for moving expenses.
bigpipe99 on June 7, 2009 at 1:01 am
Sorry to say but you the renter have no rights. I would start looking for a place to move to. I also would not pay the landlord any more rent as you know they have not been paying their mortgage.
Landlord on June 9, 2009 at 10:38 pm
She is most likely to save her property. Very few people actually allow a foreclosure to finish.
You have nothing to take her to court over. She is the one loosing her property, you are not loosing anything. You can not file a law suit w/o any damages.
Gertie on June 12, 2009 at 11:50 am
Yes she can become current with her payment and get out of the foreclosure process. You should contact her regarding this and find out what her intentions are.
Dawni Do Right on June 13, 2009 at 12:55 pm
Many states are amending their Landlord Tenant Laws to include provisions for your situation. It is becoming extremely common unfortunately.
You will need to google your state’s landlord tenant laws to see if it is still in the works or has passed. Some are amending to require longer notice, escrowing of your rent to insure repairs are made and utilities are paid, assistance with relocations costs, etc.
Other than petitioning for your rent to be held in escrow to insure utilities are paid, there is not much a court can help you with, unless you end up suing for the refund of your deposit. Demanding the bank to refund it will be more likely.
Post more as time passes. At some point you may be offered “Cash For Keys”. If so, get it in writing & don’t agree to the first offering. There are other means of stalling your eviction. Those can be addressed as they arise.