Question: I AN RENTING A HOME THAT’S IN FORECLOSURE. DO I PAY THE RENT TO THE LANDLORD?
Answer: – I would definitely talk to your landlord about it. He/She may have plans to reinstate the loan and you don’t want to risk being kicked out.
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I am a renter living in a house in CA. The house we live in is going into foreclosure auction shortly and we just found out. We have been paying every month but apparently the landlord has not made the payments. We are not in a position to buy because of previous default but we still want to live there and rent. We take good care of the house and have lived there for years. The house is in very good condition and we do repairs to keep it current. Any advice on our options that you can provide will be helpful.
Thanks!
This may be a classic case of Rent Skimming… You’ll have to read more about it and see if you fit the criteria and you may have legal grounds to get some money back…
On another note, if you wish to stay there, the new buyer of the property may well be interested in keeping you in as a tenant. The challenge is going to be able to get in contact with them.
Most areas have Tenants’ Rights attorneys who can also give you information on your area. Might be worth a call.