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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