What happens to renters when home goes into foreclosure?
Written on March 3, 2010
Our landlord has not told us the home we rent is in foreclosure. I found out through notices addressed to him in the mail and through a website listing our home in foreclosure. As it is we pay rent a month in advance and have decided to pay on time instead so that we do not lose a whole months rent if asked to leave. Sorry to say we do not trust our renter because he has not been honest with us. When this home sells, how long will we have to find a new place? Also, shouldn’t the bank be getting our rent money…especially if rent is more than his mortgage? I am really just concerned about what this means for us and options available? Anyone ever been in this situation?
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Filed in: Foreclosure Help.