I live in an apartment complex and we got a letter in the mail stating that the complex is going into foreclosure due to landlord failing to pay mortgage. I have never been late on my monthly payments. I have paid cash to my landlord as he demanded. I don’t know what kind of rights do I have when it comes to this. I live in Mississippi. I do not have a place to go nor the money to pick up and move to another apartment. What do I have to do? What kind of lawyer can I speak to about this? What kind of rights do I have?
Passive Income
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What rights? You will have a new landlord. That’s all. Relax.
Also, you have no money to move but paying for an attorney is OK?
Yes, relax.
As long as you have a valid rental agreement you will just end up with a new landlord. He may, however, be able to exercise an option not to renew your lease when it comes up, but most buyers would rather have renters who stay.
You should not pay rent in cash. Doesn’t matter what the landlord wants — it is not in your best interest to do so. I hope you have a signed receipt from him showing date and payment…?
never ever pay cash;
luck to you.
You did not say how large the complex was that you reside in. This will play a big role in what will happen if the foreclosure goes through to completion.
You should continue to pay your rent to your landlord. He is still the owner of the property and is due the rent monthly.
I agree with another poster, you should never pay your rent in cash. This might work well for the landlord as he does not have to put money into a banking account and deal with the banks on possible insufficient funds check he might write to others.
Unless you can prove that you are making your monthly rental payments with rent receipts you could be in a bit of trouble. I hope you have some type of receipts as proof of your monthly rental payments.
If the foreclosure goes through to completion the new owner, either a company, individual or the bank will contact you about your future in the complex. In all probability you will be allowed to remain in the complex.
The new owners will be appreciative of having current tenants in the complex, especially those that have made monthly rental payments without fail.
I hope this has been of some benefit to you, good luck.
“FIGHT ON”