if I find out the house I am rentining is in forclosure can I stop payining rent

Asked by Rick, 95228 Fri Jun 17, 2011

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4
Emily Knell, Agent, Huntington Beach, CA
Fri Jun 17, 2011
As you can see you're still obligated under your lease agreement to continue to pay rent to the owner, even though he may not be forwarding his payments on to the bank.

What you should be concerned about is any security deposit you may have given to the owner. This has likely been spent on who knows what.

You need to talk to or send a letter to your landlord & state something along these lines:

"I know the house is in foreclosure, I hope you will try to do a short sale on the property or try to sell before it becomes an REO, should you list the property for sale, I will gladly allow buyers to come in to see the house, but I want 1 month FREE rent, to cover my security deposit which you probably spent & I want a reduced monthly rental amount of $x for my allowing showings of the property to prospective buyers as I still have a valid lease until xx/xx/xxxx."

Email me directly if you'd like some more advice with this.

EmilyKnell1@yahoo.com
562-430-3053 cell
Realtor Since 1996
Distressed Property Expert
1 vote
Amir H. Kaze…, , Santa Clarita, CA
Mon Jul 11, 2011
Rick,

My answer is no different. Emily's answer is probably the best regarding sending the letter. Best of luck.
0 votes
Tamara Stoebe, Agent, Lancaster, CA
Fri Jun 17, 2011
Hello Rick,

So sorry that this is happening - are you sure that the property is in foreclosure? If the owner of the property purchased the home as an investment property, you may find after the foreclosure occurs that the bank will require future rent payments submitted to them, but until then you will need to continue making your payments.

If you would like access to some excellent legal advice, you may want to check out this video:
http://www.pplonlinetools.com/video.php?uid=o462mcq8i2g8caqo For as little as $17/month you can get access to a real estate attorney to ask any questions and deal with the issues that will come up after the foreclosure is completed.

Please contact me with any questions.

Best of luck,

Tamara Stoebe, REALTOR, GRI, e-PRO, CHS, QSC
DRE License #01827461
Prudential Troth REALTORS
1801 W. Ave. K
Lancaster, CA 93534
Cell: (661) 466-6849
Fax: (661) 422-3006
E-mail: Tamara@TamaraStoebe.com
Website: http://www.TamaraStoebe.com
0 votes
Laura Feghali, Agent, Stamford, CT
Fri Jun 17, 2011
Hello Rick,
Sorry but your contract for rent is with the owner of the property and you are obligated to continue to pay him the rent owed that is stated in your lease regardless if the property is being foreclosed on or not. Otherwise; you may be subject to fines or eviction by what is stated in the lease agreement.
Hope this clarifies.

Laura Feghali
Prudential Connecticut Realty
0 votes
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