Rental Property in Pre-foreclosure

[sfoody123]

What is the name of your state?We Live in Dupage County Illinois. We are renting a home from a nasty man (who actually lives next door) and he has not paid the mortgage since June, even though we have paid the rent along with $1500 deposit every month since July. So now the property is in pre-foreclosure, and what I need to know is what our rights are. Do we have to keep paying him, or does the fact that the property is in pre-foreclosure and he is not paying the mortgage, give us an out and can we not pay him and start looking for a new place to live? Or, are we obligated to keep paying the rent and hope for the best?

 

[HomeGuru]

What is the name of your state?We Live in Dupage County Illinois. We are renting a home from a nasty man (who actually lives next door) and he has not paid the mortgage since June, even though we have paid the rent along with $1500 deposit every month since July. So now the property is in pre-foreclosure, and what I need to know is what our rights are. Do we have to keep paying him, or does the fact that the property is in pre-foreclosure and he is not paying the mortgage, give us an out and can we not pay him and start looking for a new place to live? Or, are we obligated to keep paying the rent and hope for the best?

**A: you do not have the right to withhold rent. How do you know about the preforeclosure?

 

[sfoody123]

pre-foreclosure

I actually received letters and calls from agents and mortgage company, it is now in foreclosure. it is postponed until May due to scum fileing bankruptcy, but it is still however going thru foreclosure, and now he is trying to sell it out from underneath me. So, i have no rights then, and when it is foreclosed am I just screwed? Does he have the right to sell while I have a lease? He is just literally pocketing my money and hasnt paid the mortgage since before I moved in. He even frauduently showed us an uptodate mortgage, to get us to sign lease, and it turned out to be for his house next door, not the one we rented. Is there Anything we can do?

 

[HomeGuru]

I actually received letters and calls from agents and mortgage company, it is now in foreclosure. it is postponed until May due to scum fileing bankruptcy, but it is still however going thru foreclosure, and now he is trying to sell it out from underneath me. So, i have no rights then, and when it is foreclosed am I just screwed? Does he have the right to sell while I have a lease? He is just literally pocketing my money and hasnt paid the mortgage since before I moved in. He even frauduently showed us an uptodate mortgage, to get us to sign lease, and it turned out to be for his house next door, not the one we rented. Is there Anything we can do?

**A: yes. hire an attorney.

 

[sfoody123]

one last Q's

sorry, just to make sure, you are saying I do have rights and should hire an attorney? that what he is doing is not legal? or that I should hire an attorney because he is within his rights? thank you for the help!

 

[HomeGuru]

sorry, just to make sure, you are saying I do have rights and should hire an attorney? that what he is doing is not legal? or that I should hire an attorney because he is within his rights? thank you for the help!

**A: and just what specific rights are you talking about? And define just what specifically you mean when you say "that what he is doing is not legal?"

 

[Who's Liable?]

He's basically saying to move out... While under normal conditions, even if the house was sold to another party, the lease would transfer to the new owners, and they would have to abide by it... Since the house is in foreclosure, I beleive the bank has the power to terminate any existing leases... So the best thing would be to get ready to move and start looking around...

While the owner of the house is not keeping up on his finances, that does no give you the right to withold money as you signed a legal contract with him, and not the bank...

 

[HomeGuru]

He's basically saying to move out...

**A: he can say that until the cows jump over the moon. He must serve you a written notice to vacate following state L/T law. If you have a fixed term lease, the lease prevails as long as he is the owner of the property.
*********

While under normal conditions, even if the house was sold to another party, the lease would transfer to the new owners, and they would have to abide by it... Since the house is in foreclosure, I beleive the bank has the power to terminate any existing leases... So the best thing would be to get ready to move and start looking around...

**A: the bank does not have the power to terminate a lease. The foreclosure Trustee has the power per court order.
*******
While the owner of the house is not keeping up on his finances, that does no give you the right to withold money as you signed a legal contract with him, and not the bank..

**A: correct, unless there is an assignment of rents clause in his mortgage.

 

[sfoody123]

foreclosure

what i meant by rights, was to continue to stay at the house until the lease was up, and what he is doing is whatever with the money for the mortgage, claiming his wife lives inour house and he in the other to get welfare and crap from the state. And a legal person said it was illegal to collect money on a property in foreclosure. But now the problem has moved to the fact that we ended up moving out and the day before we were to be finished, he changed the locks and is holding our property hostage. It is a horrible situation and one i dream of putting behind me. You hear about people like them, but never planned on meeting one.