If the house you are renting is in foreclosure shoul you keep paying rent?
Question:
Answer:
You had better, if you don't want to be evicted! Your lease will survive the foreclosure. Once it's done, you'll be notified as to who the new landlord or property manager is and will just start sending your payments to them. Once the lease is up, you may have to move but will get whatever notice is required in your lease at the very least.
If you're month-to-month by the time the foreclosure goes through you may have to move on 30 or so days notice. If this is your situation, you might want to start looking for new digs soon.
I don't think so, you should be looking for a new place to live. You should have already paid your last month's rent when you moved in if the landlord wanted first and last months rent before you moved in so that should take care of one month's rent as you look for a new place.
If you have a lease, you are legally obligated to continue paying rent. But start looking for a new place right away, you may be homeless any time.
Your obligation as a renter is still legally binding even though the property is still in foreclosure. Your lease will be transferred to the new owner in this case, the bank that is foreclosing on the property.
Yes, your contract is still legally binding and you could be sued for the term of the lease.
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