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

    Jun 9, 2010, 06:17 PM
    Tenant paying rent on a foreclosed property
    We are renting a home and it is in the redemption period of foreclosure for 6 months and is up for sale. We have been showing the home, working with the real estate agent, etc. but we will need to move and I need to save the rent money with. What do I have to do.
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #2

    Jun 9, 2010, 06:36 PM

    You can not legally just stop paying the rent if that is what you are considering. The foreclosire period is not over and you never know who or what will come out as the owner. If you stop paying you will get evicted, taken to court and likely end up paying more that what the original rent was to be.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Jun 9, 2010, 06:36 PM

    As long as the owners "own it" till it if actually foreclosed or till it sells, the renter has a legal obligation to pay the rent.

    If it sales, you still owe the rent but to the new owners.
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