What if your landlord foreclose the house?

United States
September 28, 2010 3:13pm CST
So, if you are a tenant renting a house from someone, and your landlord going to foreclosed the house without notifying you, and you keep on paying the rent. One day, out of nowhere, the bank issue a paper to evict you, because your landlord didn't pay for the mortgage for 10 months. What you going to do? A friend of mine encounter such problem recently. He has to talk to the bank, and talk to people who knew better about the law. It was a grueling process, and tiresome indeed. The bank want him to move out within 3 days, no matter what he explain to them reasonably. At last, someone giving this wise advise, "Helping family saving their home act", proposed by Nancy Pelosi, and it will give the tenant 90 days to look for new place, no matter how the bank intimidate him. It is under the federal law, it is not arguable even in the court house. It just get the situation to rent a house from such irresponsible landlord.
1 person likes this
4 responses
@SomeCowgirl (32273)
• United States
28 Sep 10
I am sorry this has happened to your friend. It's not right that they are having this trouble when it's the landlord's fault for not letting them know beforehand. I am glad a law is being made that makes the bank wait 90 days regardless of the situation. If I were to have a landlord like that I would be sure that everyone I knew knew what happened and I would even write an article in the paper for others to know as well.
• United States
28 Sep 10
Well, under such economic hardship, no one would be honest about anything. If they can't pay for it, they simply hopefully get rent from the tenant and contain their confidence to stay over. They would like to make free rent forever.
1 person likes this
@SomeCowgirl (32273)
• United States
28 Sep 10
the rent should be used to pay on the mortgage of the house though so the house won't be foreclosed upon. I think if I were a landlord I'd be honest with my tenant so they will know, and I will also raise the rent a bit and if they don't like it I'd give them fair time to move out.
• United States
29 Sep 10
There were crooks all over the place, and people won't be honest under such circumstance. They simply not going to pay and take the rent. That is the normal psychology of everybody.
1 person likes this
@LaurenInLA (2272)
• United States
29 Sep 10
It's funny because I was somewhat involved in a situation like this. I was renting a friend's vacation home for two months when there was a knock on the door and it was a process server serving a notice of foreclosure. We were leaving long before the property was going to be foreclosed on but they did provide us with paperwork indicating what our rights were as tenants. Didn't your friend receive the foreclsoure papers? This happened in Oregon and I was served and had to send the papers to my friend. They also posted a notice of foreclosure on the door of the house.
@madasp (563)
• United States
28 Sep 10
I would be irate if that had happened to me. I guess I always thought the bank had to give a tenant more notice than that if they knew it was a rental property.In todays economy, though, with so many foreclosures i'm sure the banks are skipping over alot of the rules and probably getting away with alot of it. Just wondering, too, did your friend get his security deposit back? If not make sure he takes his landlord to court. there may be no money now but if he has a judgement against the landlord, he'll get it back eventually
• Canada
28 Sep 10
According to the laws up here, landlords have to give 60 days notice for eviction, no matter if it's foreclosure or anything else. This landlord should have given notice, that way the tenant could find a place to live. 3 days is not enough time to find any sort of place to live. I hope things work out for your friend.