The house I’m renting is facing foreclosure. What now?
09/23/2015 | Author: Legal Staff
I just found out the owner of the house I’m renting is behind on his mortgage and facing foreclosure. Will I be able to stay in the house through the end of my lease? Should I even pay my rent to him since he’s losing the property?
Unless the property has actually been sold at foreclosure, you should continue to make rent payments as outlined in your lease. If the property has been sold at foreclosure, you should have been (or should soon be) notified where to send rent and who to contact regarding your security deposit. If the property has been sold at foreclosure, you may have the right to stay in the property or be eligible to receive 30 days written notice to vacate. (Federal legislation mandating 90 days written notice expired at the end of 2014). Keep in mind that you need to remain a tenant in good standing to still be eligible to remain in the property and avoid certain deductions from your security deposit.
Your best bet is to consult an attorney about your rights in your specific situation.
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