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Foreclosure on rental, what's a tenant to do?

JychfBeach Lover
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We are renting a house and have been for about two years. Never signed a second lease after the first year was up. House is now being foreclosed upon and we don't know what our options are. You hear so many different things from different people. Does anyone have any experience with this situation? Any input would be greatly appreciated!! We don't know how far along the foreclosure is and definitely would like to stay in the house. We're working with a mortgage broker to get qualified as quickly as we can but don't know if the landlord has the right to evict us or if we can "wait it out" for the bank to take over................:idontno:

Thanks,

J

Replies

27
JOE who avatar
JOE whoBeach Lover
#27
Oh, and hey, IF you want to make your landlord a wee bit uncomfortable while living up to your lease...:twisted:

File a copy of your lease with the court as some sort of item associated with your landlord's foreclosure case. Then, compose a note that in essence says you plan to live up to your lease but are not too sure who should be getting rent money and you thus plan to give it to the clerk of court 'to hold on to'. File this as well. Then, take your rent money and give it to the court to hold. Not only is this perfectly legal it will at the very least force your landlord to drag themselves to the court to pick up the $$$, and who knows, they may choose to avoid the courthouse at all costs as they may have papers that need to be served on them and they might be trying to lay low. If it goes unclaimed you might be able to go back at some point in the future and recoup it as the property may have changed hands two or three times and a rightful recipient may be difficult to identify.

That's great advice but the lease expired six months before the bank filed foreclosure papers, plus i've already moved out...
30A Skunkape avatar
30A SkunkapeSkunky
#28
That's great advice but the lease expired six months before the bank filed foreclosure papers, plus i've already moved out...

Sorry. Well, I feel safe in predicting we will not be the last victims of this irritating situation and it might help the next guy.

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