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Buying or Selling a Home/tenant renting a foreclose home

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Question
hi my name is Sophia,i rent an apartment from 2009 to now 2015 I found out my land never pay his mortgage since 2008,the home is in foreclosure, he sold he his deed to two different parties ,now one of the deed holder is evicting me and have to pay 1,500 each month until I move in April 2015,the house is still in foreclosure, I last paid my landlord rent December 2014 , the deed holder told the judge he have ownership, by deed December 2013,there are no short sale in with the bank. I never saw them before on the property, the other party deed are showing January 2014.which we found they pay my landlord 20,000 for each deed and he suppose to be doing a short sale .that long ??????

Answer
As long as you know who the new owners of your property are, Sophia, and you want to stay there as a tenant, find out their addresses so you can send them the rent that you have been sending. As long as they accept the rent from you, you can stay there as a tenant. It is possible, however, that they may raise your rent, but they should give you 30 to 60 days advance notice.

As far as the foreclosure is concerned, it should not have anything to do with you as long as you do remain as the tenant. The new owners MUST give you a lawful notice if they want you to move out.

I do wish you well.

Dick Dennis
dixiedee13@gmail.com

Buying or Selling a Home

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Dick Dennis

Expertise

With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

Organizations
National Association of Realtors

Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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