Foreclosure in Belgrade>Question Details

Tina, Renter in Belgrade, MT

We are currently renting a house in belgrade,mt. and received a cash sale that is to take plase on april 17th.Do we pay our March rent or not?

Asked by Tina, Belgrade, MT Thu Feb 23, 2012

Our landlord has told us to pay no attentiont o the notice we received a week ago, as he says that he is trying to get it re-financed, and had told us to pay our march rent. This has caused ALOT of stress to us. Should I try to contact the Foreclosure Dept listed on the notice of Trustrees Sale? I have never been in this kind of situation, and I do not know what my rights are...PLEASE HELP ME!

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4
Ron Thomas’ answer
This gets into the LEGAL area of advice;
Reators do not give Legal advice, we leave that to lawyers.

If your LANDLORD is the owner of the property, and there is a Trustee sale scheduled for April 17th, then he is not paying his mortgage to the Bank and they are foreclosing.
If the sale date is April 17th, it is getting pretty late for him to try to save the place.
If the Bank does Foreclose, you will have about 30 days after the Trustee Sale unless you have a longer term lease.

good luck and may God bless
1 vote Thank Flag Link Thu Feb 23, 2012
Hi Tina,

Your landlord is most likely working with his lender.

I just helped my client get a $250k principal reduction with Chase which allowed them to keep their rental.

Depending on when you signed your rental agreement and how long it is for, you may be safe no matter what.

In CA where have a renters in foreclosure protection if the renter signed a lease before the home went into foreclosure and the lease is for 2 years or 3 years etc and the home sells the new owner has to honor the lease.

You have to make the payments thought no matter what. Typically what will happen is the lender wants proof the landlord has ability to pay and is looking at their bank statements. If you don't pay, they won't get approved. Additionally if you don't pay you will get evicted.

The economy is a mess. Homes are considerable underwater. I know some are not getting paid onetime and some are vacant. Work with the owner and you should be fine.
0 votes Thank Flag Link Thu Feb 23, 2012
Tina- If you have lease, then you have agreed to pay a certain amount of rent to the owner. So, that's what you should do.
http://www.facebook.com/CapeCodRealEstateServices
0 votes Thank Flag Link Thu Feb 23, 2012
Hello Tina,
Your lease agreement is with your landlord; not the bank so you need to follow the terms of the lease. There could be consequences involved for not paying your rent such as a penalty fee or even eviction. It would be a waste of your time attempting to contact the foreclosure department as they will not speak to you since you are not the owner.

I suggest that you read the terms of your lease again.

Laura Feghali
Prudential Connecticut Realty
0 votes Thank Flag Link Thu Feb 23, 2012
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