I have another question? If the house goes into foreclosure and i am still living in it and the landlord still wants me to pay him for rent can he?

Asked by Jane Austen, Avondale, AZ Wed Oct 13, 2010

Am i obligated to pay him for rent until i am ask to vacant by the bank? I was told by the bank that he is no longer making payments to the property that's why it went into foreclosure.

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7
Aaron Heard, , 97030
Wed Oct 13, 2010
BEST ANSWER
You legally have a contract with the owner of the property. if in fact that property changes ownership to the bank then you should no longer need to make payments to the previous owner. I would consult a local attorney though as the lease agreement may differ.

Sorry for the bum luck!
0 votes
Jane Austen, Home Buyer, Avondale, AZ
Thu Oct 21, 2010
I would like to thank everyone that answered my questions during my ordeal with this house, unfortunately i have to move to a rental home. We lost our five thousand dollar down payment plus what we paid for the inspection, and appraisal, its time for us to cut our loses and move on, again Thank you for all your help and advice.
0 votes
Temporarily…, , Tempe, AZ
Wed Oct 13, 2010
As mentioned, you are obligated to the terms of your lease agreement with your landlord as long as he remains the owner of the property unless your agreement had any special terms for a foreclosure situation (unlikely). You may want to review your rights in this situation and talk to an attorney that can review your lease agreement:

http://www.nolo.com/legal-encyclopedia/article-30064.html
0 votes
Robert Kroon, Agent, Phoenix, AZ
Wed Oct 13, 2010
I agree with the previous answers......best to consult an attorney. Also, I might add, when the home is actually foreclosed.......find out who acquired ownership. If Fannie Mae or Freddie Mac acquired the home, both have programs for renters......some times referred to as Cash For Keys. As a renter in these circumstances, you may be eligble for assistance. We list for Fannie and Freddie and work with renters on a regular basis.
0 votes
James Wehner, Agent, Scottsdale, AZ
Wed Oct 13, 2010
Typically if you are still under a lease with the landlord, you are obligated to pay the rent until the foreclosure takes place. At that time there may be a new owner and you would have options to stay in the home for a period of time. Every situation is different.

Great references below:

http://www.azag.gov/civil_rights/TenantRightsResponsibilities.pdf

http://www.azsos.gov/public_services/publications/residentia…

Another good source of landlord/ tenant concerns is:

http://www.doctorevictor.com/index.html

Andrew Hull is an attorney who will answer questions related to your situation.

Good luck!

James Wehner
John Hall and Associates
480-323-5462
Web Reference:  http://www.jameswehner.com
0 votes
Brad Bergami…, Agent, Prescott, AZ
Wed Oct 13, 2010
Yes Arnold is right. When ownership changes your agreement will not valid. You will then want to contact new ownership (bank) and work something out.
Good luck,
Brad
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed Oct 13, 2010
Consider consulting with an attorney who specializes in real estate, he/she can best advise--you will need to pay your landlord the rent as long as he remains the owner.
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