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    VLO's Avatar
    VLO Posts: 1, Reputation: 1
    New Member
     
    #1

    Dec 20, 2009, 01:09 PM
    Forclosed house does not sell at auction, who do I pay rent to?
    I live in California, The house I rent has gone into foreclosure & is going up for auction next week. I am covered by a lease but am not sure who I now pay rent to? My rent is do the day after the auction. Do I continue to pay my landlord or the finace company?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Dec 20, 2009, 01:39 PM

    First, what makes you think you are covered by a lease? Generally, a foreclosure voids any resediential lease.

    Are you in contact with the lender? I would have someone ttend the auction to see what happens. If the house is not sold, then contact the lender to make rental payment arrrangements.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Dec 20, 2009, 01:41 PM

    Actually you are no longer covered by a lease, it ended at the date of the foreclosure.
    1. the landlord no longer owns or has any interest in the home.
    2. since it did not sell to anyone else, normally the bank takes ownership for the money it is owed on the property.

    The good news they have to give you at least a 60 day notice to evict you.
    Bad news, they do not have your deposit, so the old landlord (who has no money) is the one you will have to go back to for the deposit back.

    You need to contact the bank and make rent arrangements with them, if they want to rent it.

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