Renting home w/possible foreclosure

[losinghomesoon]

What is the name of your state (only U.S. law)? CA, I have been renting a house for the past month and was weary to begin with as rent was very low for wonderful, large home. I went to assessors office to check on pending foreclosure of property but found a clean report on house. Recently I accidently opened a letter intended for the owner (he has not had his mail forwarded to his new address) and it was from his mortgage company stating his account was delinquent. It appears he owes possibly 3 months mortgage. Should I continue paying my rent to him. Where do I stand legally.

 

[Banned_Princess]

What is the name of your state (only U.S. law)? CA, I have been renting a house for the past month and was weary to begin with as rent was very low for wonderful, large home. I went to assessors office to check on pending foreclosure of property but found a clean report on house. Recently I accidently opened a letter intended for the owner (he has not had his mail forwarded to his new address) and it was from his mortgage company stating his account was delinquent. It appears he owes possibly 3 months mortgage. Should I continue paying my rent to him. Where do I stand legally.

You better keep paying rent to him, unless you want to be evicted.

Are you on a lease?

 

[Who's Liable?]

You must continue to pay rent as outlined in your lease. Failure to pay rent can result in an eviction.

Up until the bank takes possession of the home, it is still your LL's property. You do not know with %100 accuracy if the LL will lose the home.

 

[DeenaCA]

If the property is eventually foreclosed upon, you may be protected from immediate eviction under federal law. Take a look at the Renters in Foreclosure Toolkit at http://www.nlihc.org/doc/701-704-Public-Law-111-22.pdf.

rent was very low for wonderful, large home

You may not qualify for the federal protections if the rent is "substantially less than fair market rent for the property". See the definition of "bona fide lease or tenancy" at http://www.nlihc.org/doc/701-704-Public-Law-111-22.pdf.

As noted above, it's far from certain that the foreclosure will actually happen. It's also true that you must continue to pay the rent. Otherwise you can be evicted under state law.

 

[losinghomesoon]

renting w/possible foreclosure

You must continue to pay rent as outlined in your lease. Failure to pay rent can result in an eviction.

Up until the bank takes possession of the home, it is still your LL's property. You do not know with %100 accuracy if the LL will lose the home.

I have a 12 month lease in which I am paying my security deposit into my rent within a 6 month period. How can I save money if I am giving him a security deposit. He is always in agreement with anything I want to do to the house. For example: If I ask him if I can set fire to the house, he will say Ok, whatever you want to do is fine with me. What do I do.

 

[losinghomesoon]

Keep paying rent!!!

You must continue to pay rent as outlined in your lease. Failure to pay rent can result in an eviction.

Up until the bank takes possession of the home, it is still your LL's property. You do not know with %100 accuracy if the LL will lose the home.

If I keep paying rent I will eventually be evicted by new owners, and lose my security deposit.

 

[Banned_Princess]

If I keep paying rent I will eventually be evicted by new owners, and lose my security deposit.

if you don't keep paying rent you will DEFINITELY be evicted by your LANDLORD in less then a month and DEFINITELY loose your security deposit.


Your lease is transferable, meaning the new owners have to honor it until the expiration date.

You can sue for your security deposit once you move after your lease is over, if not returned to you according to law.