Foreclosure on rental - Help!

[drkaje]

Used to be have an office in a building that was being sold. They had to buy me out of the lease remainder, pay moving costs, and other expenses.  Spoke with an atty, he advised me to be current on the rent. 

[bichonmom]

Thanks for the replies. I'm kind of still reeling from this. I'd like to stop paying my rent so that I can have money for moving expenses, but am really concerned that the landlord will file eviction proceedings and after all my hard work, my credit will once again be ruined. I think I'm going to call some attorneys on Tuesday and see what I can do.

[drkaje]

Be sure to bring a copy of the lease to whatever Atty is used.

[IOBA]

bichonmom - and take along a copy of all of the papers you have received regarding the foreclosure.  I sooo hope you kept a copy of the papers that came to the house.

As for the eviction - I gotta believe that you can contest it or counter sue.   A judge is going to be seriously upset that the landlord is collecting rent and NOT paying the mortgage!   And you do have a right to have moving expenses paid for or some other compensation if you are locked into a lease and basically, your landlord is breaking it.

Let us know what the lawyer says.

What state are you in?

[my25reasons]

Call your County Offices and seek information regarding this type of situation. They should have some type of housing counseling / tenant landlord issues line. The operator should be able to point your call in the right direction.

[MissMia75]

That would all depend on what state your in.  For example, from my experience foreclosures in NY, OH, FL, and NJ typically takes much longer than the average foreclosure as their counties tend to be backed up for YEARS.  Most often times, homes are in foreclosure for 2-5 years before any real action is taken.

[frogfan12]

What a jerk! Who does that? Like seriously?

[MissMia75]

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@frogfan12 wrote:

What a jerk! Who does that? Like seriously?

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I agree, but you'd be surprised at how many scum bags prey and take advantage of families knowing their vulerable and need a place to stay.  Before you rent from a person or company it is imparative that you ask for a payment history to make them prove to you that all payments prior to you moving in has been paid timely.  How could they expect payment on time when they are making mortgage payments on time?

[IOBA]

frogfan12 - there are a few people out there like that...rent it out, collect the money, and not worry about the foreclosure.

MissMia75 - there are a few people out there that rent with the same intention - to screw the landlord out of a lot of money and legal fees.

  I think it's sad that people set out to screw other people.

MissMia75 - what would you recommend for people who own thier properties outright?  They would not be able to show that the house has a mortgage.   And I for one wouldn't want the renter to know there is no mortgage for me to pay each month.   Mental attitudes easily change when you hear someone doesn't have a mortgage.  The perceptions of  "oh you lucky duck!"   and "dang, you must be rich!" and "well, you obviously don't need the money for a mortgage payment."    All of these can be wrong perpections, but they do exist.