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-   -   Foreclosure notice (https://www.askmehelpdesk.com/showthread.php?t=114904)

  • Jul 30, 2007, 12:53 PM
    Ravenbeauty
    Foreclosure notice
    Do I have to pay rent where a property has received a foreclosure letter from the court?
  • Jul 30, 2007, 12:54 PM
    ebaines
    Please clarify - are you currently leasing an apartment and you received a foreclosure notice? What's the reason - is it because the landlord has defaulted on his mortgage and/or real estate taxes?
  • Jul 30, 2007, 01:02 PM
    Ravenbeauty
    I am leasing an apartment and the owner has received a foreclosure on the propery
  • Jul 30, 2007, 01:06 PM
    Ravenbeauty
    Quote:

    Originally Posted by Ravenbeauty
    I am leasing an apartment and the owner has received a foreclosure on the propery

    Am I required to still pay rent?
  • Jul 30, 2007, 01:07 PM
    ebaines
    I would expect that once the foreclosure takes effect you will start paying rent to the new owners - i.e. the bank. I believe they will have to honor the terms of your current lease, at least up through the end of the term - whether they agree to renew or not is a different manner. The new owners should contact you regarding payment terms, etc.
  • Jul 30, 2007, 01:09 PM
    Ravenbeauty
    Quote:

    Originally Posted by Ravenbeauty
    Am I required to still pay rent?

    lLandlord has not paid the mortgage and has now been serviced with foreclosure notice
  • Jul 30, 2007, 01:12 PM
    Ravenbeauty
    Before there are new owners of the propery do I have to pay the old owner rent until the foreclosue process is over?
  • Jul 30, 2007, 01:22 PM
    ebaines
    I would suggest you pay the old landlord per the terms of your lease agreement until you hear otherwise. The foreclosure notice was not directed to you, so until someone gives you new payment instructions you are not authorized to send payments anywhere else. Be sure to keep copies of any receipts, check stubs, etc. in case the bank comes to you later for proof that you paid the old landlord.
  • Jul 30, 2007, 01:26 PM
    Ravenbeauty
    The foreclosue notice lists tenants and John and Jane doe as giving us notice of the foreclosue also. Can I just break my lease legally and move to another apartment?

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