[Kserdel]

I rent an appt. of a house in Michigan. I came home on Friday and had a notice taped to my door. It stated that the landlords house that I live in will be foreclosed by sale on the steps of the court house on Jan. 24th. What are my rights as a tenant? I have a 1 year lease how does this affect me?

[ScottGem]

A foreclosure sale of residential property generally terminates any rental lease. However, if the property was commercial rental property, the leases should be honored by the new owner.

Contact the agencyconducting the sale and ask them. Until you get notice that the foreclosure is final, you have to pay renta to the current owner.

[Fr_Chuck]

Yes, you will need to be looking for somewhere else to live. The lease is void at the time of the foreclosure.
The new owner may wish to rent to you, but may give you a eviction notice of 3 days to 30 days depending on the location and the desires.

[Dr D]

AS the two previous posts pointed out, your lease will be void. There is a fairly good chance that the property will revert to the lender, considering the condition of the market. It may take some time for the lender to secure another buyer for the property. Be prepared to move; but there is a good chance that the lender, or even a new buyer would consider retaining you as a tenant for a period. You might even be able to negotiate a lower rent than previously paid. Contact the lender and ask. The worst that they can say is no. Some cash flow to the owner is better than no cash flow. Good luck.

[ScottGem]

You specified and "apt of a house". By this I assume there are more than one tenant in the house. Is it owner occupied or what?

One possibility that I often recommend to people renting the whole house, is to see if you can buy it from the owner. Since they are about to lose it anyway, even a small amount of cash and assuming the mortgage may get a deal down. If there are other tenants, maybe you can buy it together.