landlord in foreclosureure process?
Written By: admin on September 18, 2009
One Comment
why should i pay this guy when he has not paid the mortgage in 9 months, and i know for a fact that the bank is not going to do a principal reduction on this property because he does not live in it. I have a disabled husband and he has cancer again. If we have to go it is going to be expensive. I have the funds (one month) of what i have not paid him in a seperate savings account for just in case. He gave me his information for an atty , which is a bankruptcy atty , i really dont reckon he is going to know much of anything. Anyway give me one excellent reason why i should trust him…all the making home affordable programs say they must live in the property for modifications or refinances…(if they are freddie mac/fannie mae/fha for refinance).
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Tags: 9 months, bankruptcy, cancer, cancer news, cervical cancer, cockapoo, contenders, fannie mae, fha, freddie mac, good reason, home loans, housing construction, mortgage, mortgage brokers, mortgage rates, principal reduction, Refinance with FHA, refinances, solace, subpoenas, third girl, throat cancer, us housing market, vaccinated, wage garnishmentTags: 9 months, bankruptcy, cancer, cancer news, cervical cancer, cockapoo, contenders, fannie mae, fha, freddie mac, good reason, home loans, housing construction, mortgage, mortgage brokers, mortgage rates, principal reduction, refinances, solace, subpoenas, third girl, throat cancer, us housing market, vaccinated, wage garnishment
You owe him rent up to the day the deed changes hands and the bank becomes the new owner. If you fail to pay on time, he can evict you.
After foreclosure, if your rent is paid up and you continue to pay rent to the bank, you are entitled by federal law to stay in the property until the end of your lease plus 90 days, or if you are a month to month tenancy, for 90 days after foreclosure.
If you fail to pay the rent, you loose the right to stay after foreclosure and he can have you evicted, or sue you for the unpaid rent.
For more information on renters rights after foreclosure, go to this web site:http://www.msnbc.msn.com/id/30891380/