Leased house in foreclosure eviction process?

[ncforeclosure]

What is the name of your state (only U.S. law)? NC.

I signed a 3-year lease in May. Moved in June 1. Pay my rent on time, etc. Foreclosure noticed stapled to door.

Can some one confirm for me that the lease will be automatically terminated at forclosure sale? Then what? I assume eviction procedures will ensue. Anyone have a timeline for that process for North Carolina?

This is a very difficult situation as there are literally zero adequate homes for rent in this small town.

Do I have any type of recourse for relief from the LL who was 7 months in arrears with Mortgage Bank at time of lease signing? Anyway to recoup moving expenses at least?

Thanks in advance for your help.

 

[ecmst12]

If/when the bank takes posession, the lease will be void. They may offer you some cash for keys, or they might just tell you to be out in 7 days. You can try to sue the LL for failure to uphold your lease, but if he has no money, you may be out of luck.

 

[ncforeclosure]

That's what I was afraid of - 7 days out or 7 to appeal?

thanks for your response. Do you have any idea of the actual time from eviction notice to absolute removal date. I understand that 7 days is the notice to vacate, then they have to set a court date. Then I can appeal.

The reason I ask is that there literally is no where for me to move my family. This is a small town and I can't find anything adequate so I need as much time as possible.

Thanks for your advice.

 

[Zigner]

Do I have any type of recourse for relief from the LL who was 7 months in arrears with Mortgage Bank at time of lease signing? Anyway to recoup moving expenses at least?

The current LL can't even pay for the house...what makes you think you'll be able to collect something from him?

 

[ncforeclosure]

I don't believe he is judgement proof

I know a little about the LL's history (this is a small town) and current situation. He is a partner in several relatively large businesses locally (large apartment complexes, condominium developments) and personally owns a couple of other businesses as well as another home in town, one in california and quite a bit of undeveloped property.

That is the infuriating part. This is extremely distressing to my family and I really don't believe that he is making any effort at all to prevent foreclosure. I am even trying to make a short sale offer, but we wont go to the trouble of providing the documentation requred by the bank.

I know that cash flow for him is tight right now, but I don't believe for a second that he couldn't come up with the funds to correct this. He will pay in the long run, but is not willing to do the work to fix this now. So we suffer. Especially my 2 kids.

 

[Zigner]

Suit yourself...
But if he really is that in tune to how business works, I'll bet he doesn't own much, personally.