Thouse123, Renter in East Stroudsburg, PA

iam a tenent nd my house is in foreclosere by the landlord wat can i do ? do i still have to pay rent if my lease is 1 month by month?

Asked by Thouse123, East Stroudsburg, PA Tue Sep 28, 2010

Help the community by answering this question:


There is a clause in the Pennsylvania Association of Realtors recommended Residencial Lease includes the following statement regarding the Owner's Mortgage Companies rights...Line 220, Clause 28. TENANT HAS FEWER RIGHTS THAN MORTGAGE LENDER Landlord may have a mortgage on the property. The rights of the mortgage lender come before the rights of the tenant. (EXAMPLE: If Landlord fails to make mortgage payments, the mortgage lender could take the property and end this Lease.) TENANT MAY BE WAIVING OR GIVING UP TENANT'S RIGHTS. TENANT UNDERSTANDS THAT IF THERE IS A FORCLOSURE, THE NEW OWNER WILL HAVE THE RIGHT TO END THE LEASE.

If your lease does not address what would happen in the event of a Mortgage Forclosure you should consult an Attorney. My initial thoughts are that if you signed a Lease to rent the property, you are bound by the terms of the Lease as long as you continue to live in the house. In general it takes approximately a year in PA for the Mortgage Lender to take ownership, so depending on when your Landlord received notice from his/her Mortgage Company that forclosure proceedings were started - this will determine the amount of time you have left to start looking for another place to live before you are given notice to vacate the premises.

Good Luck and if you have any other questions regarding rental properties, feel free to contact me.

Cheryl J. McDonald
Realtor Associate
Rental Agent
Short Sale Certified
0 votes Thank Flag Link Wed Sep 29, 2010
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