I am renting this house for 4 months and just found out that is is preforclosed do i still pay my rent

Asked by Amy, Florida Sun Aug 3, 2008

Help the community by answering this question:

+ web reference
Web reference:

Answers

3
Will Robles, Both Buyer And Seller, 76248
Sun Aug 3, 2008
You obligation to pay your rent does not disappear if the owner of the rental property does not make his mortgage payments. He/she can still sue you to collect the owed amount. If you do stop making the payments then you are setting yourself at risk against the owner/landlord. It may be possible he finds a way to keep the mortgage in place but say you decide not to pay rent anymore and he loses the property. The Lender would follow him to collect any amounts owed before and after the auction. He would then come after you to collect the damages incurred and the rent amount. Your obligation does not stop because of a pre-foreclosure. You may stop paying rent AFTER the auction date IF he no longer owns the deed to the property. I recommend advice from an attorney. If you like the property you are in my company may be able to BUY the house AND lease it back to you! We could even give you once month's free rent if we buy it! Contact me if you would like for me to see if I can help both you and your landlord. We Buy Houses like this all the time.

Best Wishes,
Will Robles
888.605.9190 ext. 1
will@firstcasasolutions.com
8 votes
Gina, Home Seller, 48009
Sun Aug 3, 2008
I would pay rent for as long as you are occupying the property, consult your lease. Forclosure is a process that takes time. Consult an atty for legal information.
7 votes
Franklin Far…, , West Los Angeles, Los Angeles, CA
Sun Aug 3, 2008
I would stop paying the rent .

The rental agreement is between you and the owner. The mortage is between the owner and the lender. He is not paying the bank so why pay him. The owner could try to evict you for non-payment of rent but that would cost him money so why would he do that if he is going to lose the property anyway.

Once the lender owns the property they will serve you an eviction notice. However, there are ways to delay your move out and live there rent free.

Check with a property management firm in your area or a real estate attorney. They have a better understanding of the eviction process in your area and the rights you have as a tenant.

All the best,
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more