Foreclosure in 20874>Question Details

Gwen, Renter in 20874

Can I take the rent money and get another place to live and not pay the landlord who has a foreclosure on the property.?

Asked by Gwen, 20874 Wed May 5, 2010

Was not warned of a pending foreclosure, sale will take place next week, and we wont have money to move if we pay current landlord this month.

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Hello Gwen,
I am sorry you have been caught up in a growing issue. This is a grey area and you may need to seek legal councel on this. Maryland has rules and guildlines for renters I would be happy to send you the information. Your lease is with the owner of the property and just because their is a pending forclosure does not mean the owner is not trying to rework things with the bank. It would be a shame for you to jepordize your credit and possible legal issues if you stop paying. I did once have a renter put money in an escrow after filing certain papers at the court house. But you would want to double check the MD laws on when and how you can do such a thing.

Best of Luck and if you would like the MD Rental laws let me know.

0 votes Thank Flag Link Wed May 5, 2010
Gwen that is one of the grayest area's in todays economy. You have the obligation to pay your rent but your landlord had the obligation of paying their mortgage as well which they didnt. Your best bet is to consult with either an attorney, you get the first meeting free in most cases so you can get some direction or check with your state agencies as they may have a non profit that can help tenants like you in this position. Only you know what you need and what you want, you can weigh paying the rent and tehm not paying the mrotgage again, or use it to move on with your life and get out of this situation by moving. As well if you have a security deposit you ahve to address getting it back or using that for rent if allowed. So check to see if there is an agency that helps tenants, also check the Maryland Bar association if there are pro bono lawyers, good luck with working things out
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0 votes Thank Flag Link Wed May 5, 2010
You have a lease. You agreed to pay rent in return for a place to live. It's unfortunate that the landlord is losing his property, but your agreement is with the landlord, not the lender. If you're living there, pay the rent.

It's certainly acceptable for you to ask the landlord to prorate the rent, so that you're not paying for time you won't be able to live there. And it's even acceptable to ask the landlord for permission not to pay the rent at all. But without his agreement to modification of the lease terms, don't do it.
0 votes Thank Flag Link Wed May 5, 2010
Don Tepper, Real Estate Pro in Burke, VA
Your landlords condition of hardship has nothing to do with your obligation to take care of your financial obligations.

To not pay your rent could open yourself up to problems that could have otherwise easily been avoided. As long as your landlord owns the property and you reside in the home, you have an obligation should be to fulfill your end of the agreement.
0 votes Thank Flag Link Wed May 5, 2010
no by signing the lease you have committed yourself to the terms of that lease. If you leave you will loose your deposit. It may also affect your credit score. It does not matter that the property is in foreclosure there is a contract and both parties are expected to adhere to it
0 votes Thank Flag Link Wed May 5, 2010
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