My husband and I are renting a house that we believe is being forclosed on. The realtor has denied knowing anything about it but we have received certified mail from the owners bank and talked to another realtor who says on the computer it is under foreclosure.

We are unsure why the realtor would lie to us as we have been great tenants. When asked a questions isn't it her duty to tell us the truth? Do you think she is trying to protect the owner? Why wouldn't they try to sell it to us? What should we be doing to help ourselves? Thanks! Christie

All very good questions. It is all over the news these days of people that end up in your situation. There are a number of homes out there in foreclosure. If it shows on the computer that the house is in foreclosure, you should show that to the owner. Also, contact the owner and be straight forward and ask. It is very possible that the Realtor doesn't know, because the owner isn't being straight up with her. First you need to protect yourself and perhaps create a plan b in the case you are giving a notice to vacate at some point. Be prepared with an idea of where to go and the money to do so. Also if you are interested in purchasing the home, let it be known and start working on that. If the owner is facing the legal issue they would be more than likely be happy to get out from under the debt.

I hope that the certified mail was addressed to you, if you opened it?

There really is not much you can do, until the foreclosure actually happens, especially if the realtor is not going to be honest with you.

Once the process is complete, either by the owner solving the foreclosure, or it actually being foreclosed, then you will be presented with options.

The bank could continue to rent it to you, or they might even be willing to sell it to you, but then again, they could just serve you with notice to vacate.

For now, cross your fingers and hope things turn out in your favor.

Is the realtor the managing agent? Do you pay them the rental? If so, they are an employee of the owner and are bound to follow the owner's wishes.

But if you are willing and able to purchase the house, I would go back to this realtor and tell them you have received a letter from the lender that the house is in foreclosure. That you are interested in purchasing the house and would like to make an offer to the owner. If they still play dumb, then I would do two things. First contact the lender and ask if the mortgage is assignable and the name and address of the owner (if you don't already have it). Then contact the owner directly. If they are going to lose it in foreclosure they should be willing to assign the mortgage to you for a small payment, then you would have to bring the loan up to date.