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As long as your landlord has control of the property he still has the right to collect rent: whether the house is foreclosed is between your Landlord and his mortgage lender. If the property is taken over by the mortgage lender they may ask you to leave. There may be some form of protection available for you, the Tenant, before you are forced to leave. Get legal assistance as soon as you learn about the foreclosure so that you can be prepared for what's next. You may or may not be required to leave soon.
What else can I help you with?
What happens to the direct deposit of my payroll if my house is foreclosed?
Nothing happens. You still get the money in your account. They just want the house, not your money.
What happens if you are a cosigner on a house that is being foreclosed on?
The foreclosure will affect your credit record. You are fully responsible for paying the loan.
If your house is foreclosed on what happens if you get a personal lender and get a new house Can they put a lien on the new house?
Check the laws in your state, but NO, they cannot. Your old house secures the mortgage on THAT house. Nothing else.
How do you give a foreclosed house back to the bank?
When the bank foreclosed on the house, they took it back. Now it's time to move out.
Can you rent a house you were foreclosed on?
No, I can't
What happens if you do not pay your property taxes while getting ready to have house foreclosed?
You will no longer be responsible. The bank will have to worry about that after they foreclose your home.
Can you buy a house for cash if your house is being foreclosed on?
Yes you can
What happens to your house if you go to jail?
If you go to jail, your house will still be yours unless you are unable to pay the mortgage or property taxes. In that case, the house may be foreclosed upon or sold to cover the debts.
What happens when a home is foreclosed?
You basically get kicked out onto the streets...
How can you buy a house after it has been foreclosed and not sold at auction?
You can contact the lender or lien holder who foreclosed on the property and make your offer to them.
If you pay the taxes on a house that has been foreclosed does that mean you own it?
No the bank owns the house.
What happens to the remaining mortgage balance if your house is foreclosed on and sold for less than the balance of the mortgage?
The amount that the bank forgave the difference from what you owed and the house is worth will be issued to you on a 1090 form and you will owe tax on that amount.
