Do we continue to still pay rent when it is foreclosure and their our two bids on the house?

Alie4465
Other/Just Looking
Santa Maria, CA

Answers (2)
Melissa Zavala
Broker
Escondido, CA

If you are a tenant in a property that is "in foreclosure" (not foreclosed upon), then the property does still belong to the landlord. He or she has until the day before the trustee's sale in order to square away and make any arrangements with the bank in order to avoid foreclosure. They could sell the property in a short sale, arrange a loan modification, or make some other arrangement. The bank could even postpone the auction of the property in order to make such arrangements. So . . . until the property has been foreclosued, technically it belongs to the landlord and I suppose you should pay the rent. You may have some legal recourse, but you would need to speak with an attorney about that matter.

Fri Apr 24 2009, 12:53
Dot Chance
Agent
Studio City, CA
FIRST ANSWER

Who would you pay rent to? Has the home already been foreclosed? You need to determine who owns the house now and work that out with them. If the home has indeed already been foreclosed then the former owner does not have a stake in the house and I wouldn't think he would be able to collect rent on a home he doesn't own. Wish you the best! So sorry this has happened to you!

Web Reference: http://www.DotChance.com
Fri Apr 24 2009, 12:34

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