Home Selling in 08046>Question Details

Irving Edwar…, Renter in Willingboro, NJ

How can we find out through which bank our landlord's mortgage is being paid. He might be in forclosure and is keeping us in the dark?.

Asked by Irving Edwards, Willingboro, NJ Mon Mar 25, 2013

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Your State Public Notice, Justia/court docs. etc...Resolve, keep paying your rent and make certain you have your yearly lease on hand. Should there be a new owner, you have a right to stay; via the term of your lease agreement.
0 votes Thank Flag Link Mon Apr 8, 2013
You got some good answers below, in other words until your landlord is actually foreclosed nothing is changing for you, once foreclosed you will find out and will just have to pay to another entity your current rent based on the existing lease agreement....

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0 votes Thank Flag Link Tue Mar 26, 2013
Hi

If you are interested in purchasing the home you should contact your landlord and if he does not respond ask realtor to help you.

If he is behind in mortgage payments it really is none of your business. If he gets foreclosed on you will be notified when ownership changes. You have a lease even if it is month to month. they will not ask you to move but may take over the collection of rent even prior to foreclosure.
0 votes Thank Flag Link Tue Mar 26, 2013
Remember, too, your landlord may be trying to get his mortgage modified. Often the bank will go forward with foreclosure proceedings during this process. In New Jersey the process can take a very long time, two years or more. Meanwhile you MUST continue paying your rent directly to the landlord. If the ownership changes you will be notified and then you will begin paying your rent to the new owner, whether that is a person or the bank. As long as you are in compliance with your lease, no one, including the bank, can evict you simply because your landlord is in foreclosure.
0 votes Thank Flag Link Tue Mar 26, 2013
http://sellitfast123.com/nj-foreclosure-tenants-rights/
Tenant Laws and rights are in the above link.

While you have specific rights, the law protects you in foreclosure also. Know your rights...
Make sure you keep all your receipts of rent paid. The law protects you as a tenant and cannot force you out without court process. You have rights! You should continue to pay your rent to the landlord you regularly make payment to. They still own the home until otherwise you are directed.

I have access to public files and can let you know where and to whom you can direct responses. Contact me directly for this info.

Search foreclosures and short sale here: http://www.BuyNJShortSales.com

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0 votes Thank Flag Link Tue Mar 26, 2013
Some of the legal proceedings on foreclosure cases are public. You can research the status of a case to find out if a complaint if filed, if a judgement is issued, or if a sale date is scheduled. You will not have access to mediation meetings, documents pertaining to loan modifications,, etc. As a tenant, you will be able to find out if there is a judgement and/or a sale date.

Here's an overview of the foreclosure process
http://www.judiciary.state.nj.us/civil/foreclosure/overview.html


Here is a link for renters who may hold leases on properties which are being foreclosed.
http://www.judiciary.state.nj.us/civil/foreclosure/renters.html
0 votes Thank Flag Link Tue Mar 26, 2013
Deborah Madey, Real Estate Pro in Brick, NJ
MVP'08
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