Tenant in home being foreclosed what to do

[ncforeclosure]

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

I am a tenant in a house being foreclosed on. I have a 3-year lease recorded with the register of deeds. I have had conflilcting advise as to whether the lease will have to be honored by whomever purchases the house at foreclosure. That is my first question.

My second questions is if anyone knows the timeline if am facing for foreclosure.

The foreclosure sale is scheduled for oct. 9th.

Will I face eviction? If the eviction process was conducted at the fastest possible pace, how long would I have before I ABSOLUTELY had to vacate the house?

Thanks for any help, advice.

Also, should I, can I seek damages from the landlord. He was already 7 months behind in his payments when he leased me the house.

 

[JETX]

I have had conflilcting advise as to whether the lease will have to be honored by whomever purchases the house at foreclosure. That is my first question.

No. The foreclosure cancels your lease.

My second questions is if anyone knows the timeline if am facing for foreclosure.

Depends on lots of factors. Depending on where the process is, you could have a few weeks to a month or so.

Will I face eviction?

If you don't move, yes.

If the eviction process was conducted at the fastest possible pace, how long would I have before I ABSOLUTELY had to vacate the house?

Again, depends on too many factors. Most courts hear evictions on an expedited basis, usually a week or so after service. Then, when you lose, the court might give another week to 10 days.

Also, should I, can I seek damages from the landlord. He was already 7 months behind in his payments when he leased me the house.

And you got to live their for the 3 months, right??

 

[ncforeclosure]

Only lived here 3 mnths as of sept. 3

Thanks for your response. We are in North Carolina. I guess I will hire an attorney in the morning regarding eviction process and to buy myself enough time to find my family adequate housing.

Actually the landlord was 7 month in default when we signed a 3-year lease in May. Moved in June 1.

And yes we have lived in the house for 3 months. However, we incurred considerable expense to move to this house. If not for this house we would not have moved at all. Now we will again incur expense to move.

It would appear to me that there would be some sort of breach of promise here, or misrepresentation when surely the landlord knew or should have known that he was headed for foreclosure at the time of lease signing.

 

[FlyingRon]

Of course there's a breach. However, if the guy is being foreclosed on he probably is "judgement proof" as far as you are concerned (you could win in court, but if he can' pay, he can't pay).

I'd get ready to move, it's possible that the new owner (which may indeed be the bank):

1. Will be willing to continue to rent to you (especially if you keep the house tidy while they potentially sell it0.

2. Be offer to give you "cash for keys" i.e., some moving expense for you to move out in a clean and orderly fashion.

 

[ncforeclosure]

Thank you.

Thank you.