Foreclosure in Reseda>Question Details

Johnnygirl, Renter in Reseda, CA

Hello I posted back on July 20th i believe I the renter that had problems with the plumbing that the landlord would not address. We decided to fix it

Asked by Johnnygirl, Reseda, CA Sat Aug 14, 2010

and take off rent well the house was foreclosed it goes up for auction aug 24th the old landlords owe more than what the house is worth the landlords sent us a 3 day pay or quit they are still trying to collect rent when the bank owns the house can they do that? Who do we pay rent to when got a notice on the door telling us the house is owned by the bank. If the house does not sell then what happens

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You need to consult with an attorney. Yet, keep in mind that the foreclosure isn't complete until the gavel falls, and that happens after the auction--not beforehand.
0 votes Thank Flag Link Sat Aug 14, 2010
I definitely would tell the landlord that you know about the auction and the foreclosure. Once the property goes up for auction, you will be contacted by a realtor shortly after that. If you have a lease, the bank will have to honor the lease. If you don't, you'll have 90 days to vacate. Another option is for the bank to offer you a monetary settlement to move before 90 days.

In any event, you do have options. Best of luck to you.
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0 votes Thank Flag Link Sat Aug 14, 2010
Be very careful what you do at this time. Seek advice from an attorney. There may also be county and city depts that may be able to help you.

How long you can stay in the home after foreclosure depends on if you have a lease or a month to month rental agreement? Both the Federal Government and California have passed laws to protect a renter when the home is foreclosed. If you have a lease, you can stay till the end of the lease term under most circumstances. If you have a month to month rental agreement, you must be given 90 days notice to move. However, it appears these laws may only apply if you are not in default under your rental/lease agreement. I have attached an LA County website that speaks to your protections as a renter. Perhaps you can call the Dept of Consumer Affairs if you need additional information.

None of the information above should be considered legal advice. I am not an attorney. Only an attorney who understands tenant's rights can give you legal advice on your situation. I only caution you, you need to get this advice before you make any moves that may cause you to lose your rights to remain in your home. Dare to Dream.

Shel-lee Davis, CDPE, SFR, QSC
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
http://shel-lee.listingbook.com
0 votes Thank Flag Link Sat Aug 14, 2010
Hang on to your rent money. Make sure you know for sure that the bank owns the house.
Tell old landlord u know the bank owns it.
you can wait for the bank to ask you to vacate or you can sit tight and wait until they re-list it for sale.

A real estate agent will probably contact you.

the bank will sell the property - sometime it takes awhile for them to get an agent assigned.
Once that happens, they may or may not evict you.

You can try contacting the bank directly if you have a contact number on the notice u received.

Good luck
0 votes Thank Flag Link Sat Aug 14, 2010
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