Our Rental Is In Foreclosure, What Are Our Rights? | REALTOR.com ...

Q: The house we are renting is going in to foreclosure. The landlord did not let us know, and we have to move fast. The landlord took our rent then called us a day later. What are my rights in this situation?
?Sabrena, Columbus, OH

A: I hear this story all the time about tenants who rent from an owner who fails to make payments on their mortgage, while taking your rent, and then the bank forecloses and forces the tenant out. Unfortunately, the law is usually on the side of the bank in allowing them to evict you. The owner, although a bad person for not paying his mortgage, is probably not obligated to pay the mortgage or notify you that the home is being foreclosed on. For the future, make sure when you rent a home you have the owner checked out too! You can check public records to see if they have one or more loans, check for ?Lis Pendens? which are filed when the lender begins foreclosure and keep on checking every month you are in the property. I?m really sorry about your situation, I hope things work out for the best.
Lou Sansevero is a Realtor? with Atchley International Realty in Lakewood Ranch, FL.

A: The legal answer is to contact an attorney to understand in full your rights?.however, dust off that lease?just because the seller/landlord has been less than honorable doesn?t preclude you from fulfilling your obligations of the lease you have entered in. Best of luck!
Mike Wolf is a Realtor? with Ascent Real Estate in San Diego, CA.

Are you interested in having a qualified REALTOR answer your questions? Click through to Ask a REALTOR? now.

Are you a REALTOR who would like to answer consumer questions? Click through to become an Ask a REALTOR? participant.

Related posts:

1. What Happens If The Home You Are Renting Is In The Early Stages Of Foreclosure?
2. If A Property Goes Into Foreclosure What Rights Does A Tenant Have?
3. The Home I Rent Is Going Into Foreclosure, What Are My Rights?
4. We Are Leasing A Home That May Be In Foreclosure, What Can We Do?
5. My Landlord Wants To Sell My House, What Rights Do I Have?

martin henderson mlk day golden globes 2012 winners golden globes 2012 red carpet golden globes red carpet nfc championship game martin luther king jr quotes