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    UpNReady's Avatar
    UpNReady Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Nov 5, 2012, 03:04 PM
    I have been renting a home in Va, and it went to foreclosure What do I do?
    Is my lease valid, and how long do I have?My lease does not expire until 2014, what do I do
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #2

    Nov 5, 2012, 07:51 PM
    You keep paying the rent to the same person you always paid it to until a bank or new owner tells your otherwise. Foreclosure takes time and does not always go through. If it does you lease might be void depending on who ends up owning the property. Banks frequently want to keep tenats so they have some money coming in while they try to sell the property
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Nov 6, 2012, 06:34 AM
    Generally any new owner will have to honor the lease. However a new owner might might be willing to compensate you for vacating early.

    But, as mentioned, in the mean time you continue paying according to your lease.
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