Hi Tricia,

Find out who holds the mortgage on the property. Contact the mortgage holder. Ask to speak to someone in ‘Loss Mitigation” and explain your circumstances. Have a copy of your lease and any notices that you have received indicating that the mortgage is in default. Have handy a copy of your rental history as well. Receipts,
canceled checks, etc. Be prepared to submit a copy of your lease to the bank as well as an offer to remain in the property at a reduced rate for a specific period of time.

If this is a property you would like to purchase, contact a REALTOR® who has experience with “Short Sales”. You may be able to purchase the property at a substantial discount directly from the bank.

I know that there is no comfort knowing that this is occurring across the Country. When it happens to you, this problem take on another dimension.

I am certain your landlord did not intend for this to happen.

Hi Tricia,
Each state has their own laws on the eviction process. What I can tell you is the bank in not in the business of homeownership, yet along property management and leasing. Georgia is a non-judicial state, which means the foreclosure attorney does not have to go to court to have you evicited.

Casing point: A few months ago an apartment complex was on the news with tenants, rightfully so, being extremely upset that they paid their rent every month and still received notice that the Owner's were in foreclosure and they will have to be out by a certain time frame.

I would take this as, the bank probably isn't concerned with your lease you signed with the owner who is in foreclosure and will continue to foreclose on the property.

Please reference the link below. I hope it helps.

Good Luck. I hope everything works out for you.

Cynthia Shackleton, Realtor
Keller Williams Realty Grand South
770-255-9342 direct
770-914-8885 office

Hi there,

I can see you are worried about this, but you are correct, you have a valid contract and cannot be evicted. Your city's rent control laws also apply. Educate yourself on rent laws in your area and continue to pay your rent to the owner. If title transfers to the bank, pay your rent to the bank. if you have a copy of your lease, you can mail it to the bank as well.

Best of luck!

Nicole