Our landlord has not told us the home we rent is in foreclosure. I found out through notices addressed to him in the mail and through a website listing our home in foreclosure. As it is we pay rent a month in advance and have decided to pay on time instead so that we do not lose a whole months rent if asked to leave. Sorry to say we do not trust our renter because he has not been honest with us. When this home sells, how long will we have to find a new place? Also, shouldn’t the bank be getting our rent money. . . especially if rent is more than his mortgage? I am really just concerned about what this means for us and options available? Anyone ever been in this situation?
My friend moved into a rental home a few weeks ago. Today she was out in her front yard and the neighbor told her that the owners are in the process of foreclosure. She was not aware when she signed the lease and also put down a damage deposit.
♦What will happen when the house gets auctioned?
♦What will happen to her damage deposit?
♦Is she S.O.L or what are her rights?
The number of tenants being affected by the housing crisis are growing as foreclosures continue to rise across the US. In America, it is not just homeowners who feel the full effect of foreclosure. Many people who rent their homes, are facing eviction. Al Jazeera’s Casey Kauffman met the Hinojosa family in Los Angeles, who were recently evicted from their home.