Foreclosure in 55347>Question Details

Bobsteel, Renter in 55347

The place I'm renting is going to sheriffs sale on the 15th if nov..I just found out. What should I do? Do I pay my landlord? Do I not pay in?

Asked by Bobsteel, 55347 Sun Oct 2, 2011

nov? So I am pretty sure I'm not going to get my deposit back so I'm thinking I'm not going to pay for November. But once the sheriffs sale happens what do I do...do I contact the bank will they contact me.... I'm just utterly confused on what I need to do because so far no one has been willing to tell me any information... Thanks

Help the community by answering this question:

Answers

5
You should call these people: http://www.homelinemn.org/

They will tell you what to expect, what your rights are, and what to watch out for.
1 vote Thank Flag Link Sun Oct 2, 2011
Hello Bobsteel,
You need to continue to pay the rent to your landlord even if he is losing the home as your lease contract is with him; not the bank.
If you do not pay your rent, then you may be subject to late fee fines or even eviction. Check your lease to determine the ramifications.
The owner's lender or a real estate agent representing the bank will contact you when the time comes for you to vacate.
Good luck!

Laura Feghali
Prudential Connecticut Realty
1 vote Thank Flag Link Sun Oct 2, 2011
You have an obligation to pay the rent to the current landlord and the bank if they request it.

The bank cannot boot you from the home until your lease is up. They might try and you may get an agent knocking at your door who represents the bank but you just need to remind them of your rights and give them a copy of your lease. Any problems after that and you can always refer to the MN Attorney General.
Web Reference: http://www.nateberg.com
0 votes Thank Flag Link Mon Oct 17, 2011
In MN, your lease is valid for its entire term, whether the property is owned by a landlord, or a bank.

Continue to pay your rent on time, and be prepared to move when the lease is up. Or, maybe you want to purchase the property, or another.

Send a note if I can be of further assistance.
0 votes Thank Flag Link Fri Oct 14, 2011
You are in a zip code where I live. I am on SHerman Drive 1 block south of Pioneer Trail in Eden Prairie.

In Minnewsota the owner have a 6 month right of redemption so it will not become lender owner for at least 6 months after the sherrif's sale.

If you have a legal oblligation to pay you should.

I handle short sales in Eden Prairie maybe I could give your landloard some help at no cost to them.
0 votes Thank Flag Link Sun Oct 2, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer