The house I am renting was foreclosed on, what now?

Autumn Vacio: Banks do not abide by the same rule and regulations that a seller or realtors have to abide by. I would contact the bank and find out if they have an REO department or if they outsource their REO's to and asset mgr. Then you can try and purchase it but...if all else fails you may have someone knock on your door and give you cash for keys. This way they offer you at least something to move out in 2 weeks which may offset some moving costs. Also ask if the cash is negotiable. Otherwise you really don't wan to have them evict you. Do you? Good Luck!...Show more

Doreatha Kjellsen: contact the lender; ask if you maystay. And, why not ask if you can buy the home?At a minimum, stay till the bankseeks a court order to evict you;that will take a few week or months.and stop paying rent.Hold it. Prepare to sue theold landlord for the securitydeposit. MOST banks want theirproperties occupied.IF you want my help, I willrep you as an advisor only....Show more

Adan Stribble: You are screwed. Kiss away your last month's rent and any deposit you have paid the owner, it's gone. The only thing you can do at this point is contact the Bank and ask if you can continue renting from them until the home is sold. Then begin looking for another place to live. The Bank is not going to honor a contract they haven't written or signed.

Elfreda Grossen: you do not say the position you stay, yet I propose you contact the community tenant's council or legal help to get suggestion on a thanks to proceed in accordance such as your community guidelines. in case you received a broadcast word on your door that the resources is now owned by utilizing the monetary employer, then the landlady is no longer the owner of the resources and also you do not owe her employ. If the papers say that they're going to be foreclosing, then she continues to be the landlady and also you want to pay her the employ you owe as in protecting such as your contract. i ! do not imagine that's honest that she rented you the domicile ! in August understanding that she hadn't paid the loan loan in view that June. per chance she idea she ought to make amends for the funds, per chance she had another urgent situation that brought about her to default on the domicile funds. per chance she changed into in simple terms dishonest. yet there ya bypass. Do you quite imagine that suing her is going to get you some thing? yet, a legal adviser ought to say this is nice to go by potential of the motions in order to have legal status with the monetary employer. Get good legal suggestion. a tremendous type of the time, even as a foreclosure occurs, the recent proprietor (monetary employer) needs to positioned up word to occupants that they're going to be evicted. In my journey, a 30 day word to vacate is needed in the previous eviction court docket circumstances can start up. With the glut of foreclosure in a lot of markets, that's a chance we are able to work out a replace in coverage. So, do not stress, get suggestion! that quickly pertains on your difficulty, no longer anecdotal suggestion on what has occurred to others....Show more

Chris Rosenkranz: The bank actually was sold. It was sold on April 1 before the courthouse doors of hall county to SunTrust Bank, who was the highest bidder.

Melvin Nakama: Sorry, above I didnt mean the bank was sold, I meant the house was sold. To a bank.

Jonathan Schlussel: The house wasn't sold so the bank doesn't have to honor your lease with the foreclosed owner. They have no contract with you, you need to sue the owner for your lost rent and deposits.