Home I'm renting is in foreclosure in October 13... I want to move out.. What's should I do?

Asked by Sun, Mesa, AZ Tue Aug 10, 2010

My lease is month-to-month. My house I'm leasing in Mesa, Arizona is in foreclosure on October 13 cause the owner does not pay the mortgage. I just receive the forclosure notice from the bank last week (July 28). I want to move out in September. Do I still need to make the payment for the month of August? Also, who should I make payment to and inform about my moving? I talk to the bank's lawyer; they send me to talk to the owner and the bank's foreclosure department.

I attempt to contact the owner, got no success, phone was disconnected. Talk the owner's bank, foreclosure department; they refuse to advice/help because I'm not the owner. I'm not sure that I could trust the current property manager since my rent payments have not been paying to the bank/mortgage of the house since April. I'm stuck here, any advice is greatly appreciated. Thanks!

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5
Temporarily…, , Tempe, AZ
Tue Aug 10, 2010
It's not the property manager's responsibility to make sure the rent payments go towards the mortgage. They collect the rent on behalf of the owner. The owner is responsible for mortgage payments. You are likely still responsible for the rental payment regardless if the mortgage is paid or not, but confirm with a lawyer.

Also, are you going to keep asking this question until you get an answer you want to hear?
1 vote
Jason Whaley, Agent, Mesa, AZ
Fri Oct 22, 2010
I am in no way giving you legal advice, but if no one is picking up the phone including your Landlord, I would wait until someone comes knocking on your door. At this point, I would guess your Landlords has moved on and is running from anything pertaining to your property.
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0 votes
Kristina Ari…, , Tempe, AZ
Tue Sep 7, 2010
If you have a month to month lease, then Arizona Landlord Tenant act will govern the terms of notice - in general on a mtm lease, the tenant has to give a 30-day notice to vacate in writing to the property manager . . . hope this helps!
0 votes
Ty Dwyer, Agent, Richmond, VA
Mon Aug 23, 2010
I think the foreclosure when enforced terminates your lease agreement. Talk to a real estate attorney. My opinion.
0 votes
Kent Gagon, Agent, Chandler, AZ
Thu Aug 12, 2010
Great answers below, if you want to stay until the house does go to foreclosure you can do that too. Someone will eventually come knock on the door and most likely offer you moving expense money to leave it is called cash for keys. If you have a longer term lease then you have the right to deny and stay and the bank has to honor the lease. So seems to me like you have a number of options to consider before just bailing. However your lease states that you do have to pay or you will be evicted most likely. Since I have not seen it I have not a clue what it says. You may want to contact legal counsel for further advise?
Good luck, if it were me, I would wait for the knock on the door asking for cash for keys/lease.
Kent
0 votes
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