in foreclosure, do i still pay rent?

By jennifer h.

My trailer just had a noticed posted on the door stating that the property is now in foreclosure. I am worried about getting my deposit back and was curious as to wether i legally can withold rent until the property is auctioned off and i have to move?

Edited on: Thursday, November 4th, 2010 11:21 am

2 Responses to “in foreclosure, do i still pay rent?”

My response: (We welcome stories, examples, explanations, answers and a touch of your personality)
 

Katie

November 5th, 2010 10:32 am

Hi Jennifer,
My best advice would be to contact whoever the current mortgage lender for the property you are renting is. If the homeowner was foreclosed on, then there is a chance the bank could be the current owner. Under current National law, month to month tenants of foreclosed properties must be informed wtihin 90 days before they can be legally evicted. Whoever now owns the property could very well come to you and offer you “Cash for Keys” which means they will give you enough for your security deposit and one month’s rent for a new apartment if they really want you out. You do NOT have to agree to it if you do not want to. You should NOT pay ANY rent to your current landlord because he no longer owns the property. For more information, I would contact your local housing authority. I’m from Rhode Island so I am unfamiliar with the housing programs in your area.
I would definitely reccomend you either call or make an appointment immediately with your housing authority.
Katie


alandloard

August 6th, 2012 10:52 pm

No. Save your money. Wait for the bank to approach you they may offer you Cash for keys. Up to $5,000.00


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