Like to know my rights in the situation where the owner of the home I am renting was notified of foreclosure and given 30 days to respond. He has not made his mortgage payments since March 08... Can I terminate my lease without any penalties? What are our legal responsibilities?
Thank You... :confused:

Your responsibilities are detailed in the your lease. With the possible exception of California, what the landlrod does with what you pay him is no concern of your yours. As long as he is the legal owner of the property you are required to adhere to the terms of the lease and pay him the rent. Since he has not violated the terms of the lease, you have no grounds for breaking it.

Once the foreclosure is finalized, the lease will be void and you will have to move. The new owner will be required to give you a reasonable amount of time to relocate.

You might consider making an offer on the place. See if the mortgage can be assigned to you and you pay the arrears. If he's going to lose it in foreclosure anyway, he might be amenable to this.

Yes Scott has it down well, except for California that has some special protections, your lease is valid until up and to the time that it is actually foreclosed.

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Originally Posted by chickiegal

Like to know my rights in the situation where the owner of the home I am renting was notified of foreclosure and given 30 days to respond. He has not made his mortgage payments since March 08.... Can I terminate my lease without any penalties? What are our legal responsibilities?
Thank You....:confused:

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Yes, Scott, it was not the answer I had hoped for but it helped spell things out. Tks for you quick response.