Greetings Confused,
I think your true login name would be P.O'd. because you are definately not confused. You already know what is going on and IT SUKS! Let your emotions run the gammet, put them to the side and take care of your business.

As Mary stated, should the property become and REO after the auction, definately provide a copy of your lease to the new owner. You may also want to contact the lender to see what you can find out and make your residency known.

If an individual purchases the property at auction there more than likely won't be any Cash For Keys and all standard 'what will the bank do' responses are invalid.

Sorry that you find yourself in these circumstances. Definately review the tenants rights information Mary provided. This has come about through the Obama Administration. It is a little relief, but the end result is the same....You've Got To Move.

Good Luck,

Yes that is fraud but unfortunately not much is being done about it right now, probably becuase renters don't have the money to take landlords to court. If it becomes bank owned, the new law states the bank has to give you 90 days to vacate, but you will have to continue paying rent. You can read the tenant foreclosure act at http://www.tenantstogether.org/downloads/S.896RenterProtecti…

The bank will probably offer you "Cash for Keys", which means they will give you money (est. $1500 - $5000) in exchange for vacating the property by a certain date and keeping it in a sellable condition (not removing fixtures, appliances, etc.). Anyway, the final outcome is finding a new place to live. This is becoming a growing concern upon renters because you don't know if a place is in default or not.

If you'd like me to track the sale of the property, i can do that for you. Sometimes the sale doesn't happen when it says it will because it's postponed for one reason or another.

Hope this helps!

Put your rent money into a new account titled Rent Escrow for Lender & be prepared to remit the funds if they come after you. Auctions typically close within 30 days, so start looking for a new home now! Best of luck!