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What if your landlord stopped paying his mortgage for a building you live in?
Wiki User
∙ 13y ago
That has nothing to do with the tenant.
Wiki User
∙ 13y ago
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Does a renter have to pay rent if a landlord isn't paying the mortgage?
The property is in CA.
What do you do when you have a lease and paying your rent but the landlord doesn't pay the mortgage?
Nothing. Just keep paying your rent. The landlord's relationship with his bank has nothing to do with you. And, if he does get foreclosed, federal law gives you lots of time before the bank can move you out.
How can a second mortgage loan be discharged?
Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.
What is the meaning of a buy let mortgage?
A buy to let mortgage is one in which the sole purpose of the purchase of the property is to immediately let/rent it out. On the one hand the transaction provides the landlord/mortgage holder with income while retaining an equity increases in the property. The down side is where the landlord cannot find a paying tenant and could default as a result.
IS THERE ANY GRANTS FOR PAYING YOUR MORTGAGE?
HELP MFORM PAYING YOUR MORTGAGE
Who is entitled to insurance proceeds between tenant and landlord?
That depends on the type of insurance policy it is. If it's the landlord's policy on his building, with him paying the premiums, then the insurance benefits go to him. For the insurance money to go to you, then you would have had to have taken out renters insurance, with you paying the premiums, insuring the contents (your personal belongings).
Co-owner of home stopped paying their share of mortgage how do I get them to pay?
You sue them and, if they don't have the funds, you would likely start with getting their share of the asset owned.
Can a landlord enter premises and show rental if tenant is not paying rent and has refused permission?
If you are not paying rent - yes, absolutely the landlord can. If you aren't paying rent, your "refusal" has no legs to stand on.
Paid 4 month of rent when landlord wasn't paying mortgage. Landlord went into foreclosure and we had to move out. Do we have legal grounds to reclaim that 4 months of rent through small claims?
You could try, but the fact is, you owed him that rent up until the day the foreclosure sale happened. Whether or not he is paying the mortgage has nothing to do with your obligation to pay the rent. By federal law (and most states have even stronger laws) the bank should have given you plenty of time to move.
How is the tenant affected when a landlord files Chapter 7 Bankruptcy?
It depends on the way the house is included in the bankruptcy. If the mortgage is up to date and the landlord is reaffirming the mortgage, there should be no effect. If the landlord is abandoning the property to the mortgagee, you will either get a notice to start paying rent to the mortgagee or a notice to quit or both. Talk to a bankruptcy lawyer right away, as there are some things you may be able to do to delay things or get help moving.
Which is worse an eviction or broken lease?
An eviction definitely! With a broken lease, you are still paying your landlord the rent that you own him and will probably be paying a fee to break the lease. With an evicition, the renter probably has stopped paying the rent or has damaged the property or has been doing something illegal like growing marijuana on the property.
My husband cosigned for my 2nd mortgage and he is not on the first mortgage. if we have the same lender for both mortgages and we quit paying on the first mortgage how fast will his credit be impacted?
Since he is not listed as a borrower on the first mortgage his credit is not affected by paying or not paying that mortgage. Even if both loans are with the same company, he is only held responsible for the loan in which he signed.
