[yannNYC]

I am a tenant who recently became aware that my landlord was served foreclosure notice for a home equity loan he had taken out on the property in which I rent an apartment in 2006. According to the letter that was served of which I was given a copy by the server, he had stopped making payments on the loan in July 2007. His wife and himself have not attempted to explain why this occurred but they insist that I continue to pay them the rent. She has said that the only thing they can do is put a lien against the house because this is not the actual mortgage and that they culd not foreclose on the house because of the loan not being paid. I would like to know what exactly is a lien against the property and could my family and myslf end up being served eviction notice because of their failure to make payments on their home equity loan.

[ScottGem]

First, they are right in that, as long as they are the owners of the property you are required to pay the rent as you agreed to in your lease.

Second, they may well be correct that the second mortgage holder cannot force a foreclosure. The laws differ on that, so you might consult a local real estate attorney to confirm it. Also what did the letter say about it?

A lien is an encumbrance on a property that must be satisifed before the property can change hands.

If the second mortgage holder is able to force a foreclosue, then it could mean that you will have to move. If the property is foreclosed on, then your lease if voided as soon as the foreclosure is final. Which could mean that you have to move.