hntrdog
Oct 7, 2008, 05:22 PM
I currently rent a home. My lease was up in August and while I re-negotiated the monthly payment the owner never sent me a new lease to sign. I came home today to find a "For Sale/Short Sale" sign on the front lawn and a lock box on the door. I contacted the realtor who was surprised that the owner never contacted any of the tenants. He owns approx 40 properties in town. I made it clear that they were not to enter my home without my permission and that the alarm would always be set. She told me no problem. She also stated he was in foreclosure and working with the bank for a short sale. At that time I said something to the affect of "great he has been pocketing my rent payments". She said no she was sure he was paying the bank. At that time I said he wouldn't be in foreclosure if he was paying the bank since proceedings would not have started unless he was at least 90 days in arrears and in this current climate he is probably a lot more than that. She again said she felt he was sending the "something".
My question is, if he is in foreclosure do I still have to continue paying rent?? I am going to be discussing qualifying to actually buy this home once the comps come in and the rock bottom price is set. In the meantime I need to know where I stand. I know the lease is null and void and I will never see my deposit but what about continuing to pay rent?
I found it suspicious that the owner waited until a week after rent was due to put the signs up on the lawns. He made sure he got one more months rent from everyone as I am sure there are some who will no longer pay. I don't want to jeopardize myself in any way, I just want to know what my options are.
My question is, if he is in foreclosure do I still have to continue paying rent?? I am going to be discussing qualifying to actually buy this home once the comps come in and the rock bottom price is set. In the meantime I need to know where I stand. I know the lease is null and void and I will never see my deposit but what about continuing to pay rent?
I found it suspicious that the owner waited until a week after rent was due to put the signs up on the lawns. He made sure he got one more months rent from everyone as I am sure there are some who will no longer pay. I don't want to jeopardize myself in any way, I just want to know what my options are.