steped init on deertrail
Dec 24, 2007, 08:28 AM
We have been renting on contract, to purchase a home in Inpls In, for the past 16 months.
We had a one year lease and extended it in Sept 07 for a second year. In our contract it stipulates a percentage of rent shall go towards the down payment.
On Dec 17,'07 we received papers that the owner was in default on the mortgage and the bank had began the foreclosure process. We learned that he had not made any payments since June '07. Although he had the nerve to raise our rent $75 in Sept.
Is there any legal action we can take to save our house?
Is there legal action I can take against the landlord?
Do I have to continue to pay rent in full, or at all?
We had a one year lease and extended it in Sept 07 for a second year. In our contract it stipulates a percentage of rent shall go towards the down payment.
On Dec 17,'07 we received papers that the owner was in default on the mortgage and the bank had began the foreclosure process. We learned that he had not made any payments since June '07. Although he had the nerve to raise our rent $75 in Sept.
Is there any legal action we can take to save our house?
Is there legal action I can take against the landlord?
Do I have to continue to pay rent in full, or at all?