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    mommaof7's Avatar
    mommaof7 Posts: 1, Reputation: 1
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    #1

    Dec 1, 2010, 02:56 PM
    Holding off on paying rent due to foreclosure..
    I am renting a home that is in a foreclosure due to sell today(dec1,2010) but got a call from another agent and was told the house was postponed until the 5th of January.. the agent of the homeowner had told me that they are working on the remodification loan still and hoping the bank approves it so the owner can keep the house. It has put my family on hold and today we were thinking the house would sell but now we are still having to wait until the 5th of jan. to see if the house sells or not? As the renter and being put in this situation, putting our family on hold from moving or not moving, I refuse to pay rent until I am sure the home is secure or not? Can I? Refuse to pay? Also I have been in the home for almost 3 years now, the 1st year we had a lease, but after that no written lease, just verbal month to month so as of now no written lease stating our stay? We have never been in direct contact with the landlord, we rented from the LL's friend, and have never had any conflicts with her either, but with this situation I am upset that, especially now with christmas, that I have to pay rent if I am not sure the home is secure?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Dec 6, 2010, 02:53 PM

    Sorry, but if you don't pay rent you can and will be evicted. As long as the landlord owns the property, they are entitled to the rent on the property.

    If the property is foreclosed on, you may be able to reach an agreement with the new owner. At worst you will be given 90 days to find a new place to live. If you stop payment you forfeit that. The landlord may need the rental to be able to forestall the foreclosure.

    I'm not really sure what you are concerned about. Lets say, the property is auctioned on 1/5 and you have paid the January rent to the previous owner. As long as you have a receipt for that rent, the new owner cannot ask you to pay double. So, even if there is a foreclosure, you will not be hurt too badly. What is more likely to happen is you will be given 90 days to vacate and may not have to pay rent during that time.

    So make your payments or face eviction.
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