Do you have to pay rent if you landlords home gets foreclosed?

Answer 1

Yes, the tenant must continue to pay the rent to the landlord who has control over the property. When the foreclosing entity takes control over the property, the tenant will be given instructions on to whom and where to pay the rent, or other instructions such as to vacate the premises.

Answer 2

You are liable for the rent you have agreed to pay -- to the landlord until the property is no longer legally his, then to the bank. Most states permit you to break your lease at the time of foreclosure, but this has no bearing on your responsibility to fulfill the obligation you have accepted with respect to rent as long as you are in possession of the premises.

Currently, banks may evict you without warning on foreclosure if they wish to. Congress is considering legislation to require some prior notice.

Answer 3

Tenants do have to pay their landlords even if the property is under foreclosure - until the foreclosing agency or entity takes total control of the property. When this happens they become the landlord, to which the rent is due accordingly. Whichever landlord has controlled the property can still collect rent from the tenant, and can still evict a tenant for failure to pay the rent.

Answer 4

That depends on what you mean by foreclosure. If a foreclosure auction has taken place, then the bank owns the building. Sometimes the banks want rent, sometimes they don't. Some state's laws require the bank to give tenants time to move, with no rent paid. You should consult an attorney (maybe local legal aid), or a housing court (if your state has them) about the laws of your state.

However, if the bank is only threatening foreclosure, and your landlord still owns the building, you still have to pay rent. Many owners find a way to avoid the foreclosure, but not if the tenants all stop paying rent.

Answer 5

The status of the owner of the home and his/her bank is none of your business really. As long as you live in the house you are responsible to pay the rent, despite any status between them and their bank or mortgage company. What would make you think you can live there rent free just because they are or are not behind on payments. They may be in foreclosure due to their insurance company not sending a proof of insurance to the bank. I any case it would not warrant you living there rent free no matter what. You have a contract between you and the owner of the property as long as they are the owner of the property.

Answer 6

Even if a house is going through the process of a foreclosure an individual still needs to pay rent to their landlord. Neglecting to do so can result in an eviction.

Answer 7

You have an obligation to pay rent until the foreclosure sale actually happens.

Answer 8

No the landlord cannot take rent if the apartment is in foreclosure He may should inform about the foareclosure and condtions in the lease