Landlord/Owner did not pay mortgage and bank is foreclosing. They are asking for an immediate vacation of premises.
Real Estate Professionals
Related articles:
- Does my colleague have to leave a foreclosed apartment she is paying rent? Last month, my colleague found out that her landlord has not been paying the mortgage and the bank is now foreclosing on the property. The bank hired an exit...
- apartment being foreclosed on.still pay rent? i live in florida and renting an apartment from century 21..well someone shows up a few days ago with a foreclosure notice for the apartments..well century 21 don’t own...
- Do I still pay rent on a bank owned property? I live in Georgia and the apartment complex I live in has foreclosed and is presently owned by the bank. Am I still required to pay rent?Real Estate Professionals...
{ 5 comments… read them below or add one }
I think you are allowed to stay until your lease is up. Call your local courthouse and find out now.
Yes they can.
Honestly I don’t know, but what a jerk your landlord, if you were paying the rent he supposed to be able to pay the mortgage, it is not like it was coming out of his pocket, actually it was coming from your rent. Sorry about that, good luck.
ur rent money is gone and there will be a new owner of that property soon once it is sold at auction. You could ask to make a “deal” to stay there and pay rent until the new owner is determined.. you could sue the land owner for “distress” etc. but it is likely not worth your while. sorry.
It’s a bad situation for you, but yes you can be evicted. The reason is that whoever owns the house must pay the mortgage, and they are probably renting you the apartment to help pay their mortgage.
However, if the property owner defaults on the mortgage then the bank forecloses on the property, and the house becomes the property of the bank. Since you don’t own the property you have no legal say so in the matter.
In short the bank doesn’t care if you paid your rent, their chief concern is that the mortgage hasn’t been paid. Hope all works out for you.