In April, I moved into my apartment. It is now June and there are letters coming here every other day saying this property is scheduled for sheriff's sale September 9, 2008. My mom told me to start an escrow account until the situation is resolved or just in case I have to move. Is this true? How do I go about this without any problems. I've seen the landlady and her boyfriend arguing and threatening tenants all the time. Do I need a lawyer? PLEASE HELP! MY RENT IS DUE SOON AND I NEED ANSWERS.

It would help to know where you live. But, unless you live in California, then you are required to pay your rent normally until you are officially notified that the property has changed hands. If not, you can be evicted.

The current mortgage crisis has caused many problems like this. Landlords finding themselves in a bind and can't afford to keep up the mortgage even by renting. Once the property is officially foreclosed your lease is void.

The reality though is that you will be given time to find a new place. The new owner, might even help by "paying for keys". So I would continue to pay your rent as prescribed in your lease.

If you do not pay the rent, the landlord can evict you.

With that said, some have done what your mother has suggested, explain to the landlord that as soon as the foreclosure is complete, and he is again the owner of the property in good standing, you will pay the full amount due.

Should he not cure the foreclosure, you will need the money to relocate, and or pay the new owner if they will allow you to continue to rent the property.

You do, as I said, run the risk of eviction in doing this.

Quote:

---

Originally Posted by ScottGem

It would help to know where you live. But, unless you live in California, then you are required to pay your rent normally until you are officially notified that the property has changed hands. If not, you can be evicted.

The current mortgage crisis has caused many problems like this. Landlords finding themselves in a bind and can't afford to keep up the mortgage even by renting. Once the property is officially foreclosed your lease is void.

The reality though is that you will be given time to find a new place. The new owner, might even help by "paying for keys". So I would continue to pay your rent as prescribed in your lease.

---

I live in Philadelphia, Pennsylvania.

Well the great thing about apartments, is that someone is going to buy them, even the bank if they foreclose will want tennants to be paying rent, so unlike private homes, I expect you will keep a place to live there.

In PA you can not stop paying rent until they no long own the property, I would put Sept in escrow to see who actually owns it at the day of the sale..