as an agent who has sold many income producing properties, 9 times out of 10 the buyer of a property wants a good tenant that always pays on time.
The owner of the property could cure their pre-foreclosure issues, the property could sale maybe buy conventional sale or short sale.
Remember this, you do have rights as a tenant, the new Obama laws on tenancy and foreclosure give you 90 days or the length of your lease whichever is longer. Then the the banks typically wont just throw you out many will offer cash for keys which will definitely help with a new security deposit.
hope this helps,
Century 21 O.M.A.
229 Avenida Del Mar
San Clemente Ca 92672
Your lease agreement should give you a 5 day grace period for paying your rent. They shouldn't be able to kick you out after being only 3days late. IF there is a property manager, you should call that person TODAY.
Otherwise, here is the phone number for the agent who has the property listed for sale. 949-292-1418 his name is Thomas. I don't see why the landlord would want to kick you out at this point, it's better for him to continue to collect rent & for you to remain in the property, maybe the new owner will want to keep you on as a tenant.
Let me know if you have any other questions
Please bookmark these links ... just in case you DO get a notification at some point. It's always helpful to know your rights, as a renter or whatever!
I am sorry that you have to deal with this. Your house is in a great location in San Clemente.
If your landlord still owns the house you should continue paying him. If the owner lost the house to the bank due to foreclosure you should get a notice. Did you get any notice from the Bank? Let me know.
Good luck and I like to hear from you
Did you receive ANY official written notification from your town or the owner's bank, etc - that would indicate that your building is in foreclosure? Would you please let us know?
Generally you must continue to pay your rent. But I believe that CA state law has provisions to protect yourself regarding your security deposit - again - IF the building is actually in foreclosure.