Do I stay for the next two months? Should I pay rent? Should I call the bank? What about my deposit?|||1) The foreclosure process takes longer than 2 months. Stay put.
2) If you plan on living there, OF COURSE you pay rent! Why would the LANDLORDS financial issues entitle you to live there for FREE??
3) You can call the bank, but LEGALLY they can tell you NOTHING. You are not a party to the foreclosure. Would you like someone to call up YOUR bank and have the bank discuss YOUR finances??
4) Your deposit should be fine and you should get it all back. If the landlord is losing the place, he cannot exactly withhold it for damages and cleaning.|||First of all the bank will not talk to you until they take possession.
The new federal law requires that the bank let you live out your lease if you have one and give you 90 days notice if you do not.
You MUST still pay rent to the landlord until the day the bank takes possession, then you pay the rent to the bank. If you do not pay you can be evicted. Foreclosures can take months to go through. There is no need to panic.
They still must refund your deposit. If they fail to do so then you must sue them for it.|||You are still legally obligated to pay your rent per the terms of your lease. You could try and call the bank but they are not obligated to tell you anything as you have no ownership interest in the property. Either way, you may want to start looking for another place. I would say goodbye to your deposit. If the owner is not paying the mortgage, he has spent your deposit...|||No need to leave until you have to. You do need to pay your rent, Make sure you keep a record of the check. Check out the link below. Under a new law, you have some specific rights when your landlord is foreclosed.
http://clarkhoward.com/liveweb/shownotes鈥?/a>
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment