Legal options that a mortgage company has on a home that went through bankruptcy and is being rented out.

Asked by showmaster_68, Lewiston, ME Wed Sep 12, 2012

I have a home that I put through bankruptcy and discharged in Dec of 2011, so far I have not recieved any forclosure notices. I would like to rent the place so someone is in the home and its taken care of. What would or could the mortgage company do if there was a one year lease agreement? The mortgage company is out of the state of Ohio and the home is in Maine.

Help the community by answering this question:

+ web reference
Web reference:


Margaret Amador’s answer
Margaret Ama…, Agent, Sarasota, FL
Thu Sep 13, 2012
This is an attorney question and concerns your state laws. Disclose pending foreclosure to the renter and explain tenant's rights when foreclosure happens. More reason to cunsult an attorney or a community center where you can ger legal advice according to your income.
1 vote
Brian Walker, Agent, Searsport, ME
Wed Mar 5, 2014
When you filed for bankruptcy you had to declare expected income from your assets. This would include projected income from leasing property. You should ask the attorney that handled your bankruptcy if this would violate your obligations to the bankruptcy court.
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more