Renter's Right Info after foreclosure.
- Thread Starter zanjoker
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Gail_in_Georgia
Moderator
Until the house is actually closed upon (typically by the lender) the tenant needs to keep paying rent to avoid facing an eviction.
Sometimes a tenant will negotiate with the bank and purchase the home; remember that while the bank holds the unit in foreclosure status they are making no money. In certain parts of Michigan (Detroit comes to mind) there are so many homes in foreclosure and people are picking them up for a very reasonable price.
Gail
Sometimes a tenant will negotiate with the bank and purchase the home; remember that while the bank holds the unit in foreclosure status they are making no money. In certain parts of Michigan (Detroit comes to mind) there are so many homes in foreclosure and people are picking them up for a very reasonable price.
Gail
I received a notice looking for occupants at my rental unit. Upon calling the number on it, I learned that the property was foreclosed recently. My landlord said that I still owe rent because they only sold the "interest" and not the "said property". My landlord is requesting rent. I have confirmed that the landlord is still listed as an owner on the deed. So it is in redemption period. I didn't renew my lease but have been paying since the first of January. I believe that in Michigan, this may constitute an unwritten (month-to-month) lease (?) Does anyone know if these still bind during a redemption period or even better, what law says whether they do bind?
Gail_in_Georgia
Moderator
Until the current landlord is no longer the current owner (i.e., when the bank takes over ownership) you still owe rent to that person. If you fail to pay rent they can consider filing against you for eviction and owed rent. You don't get to live rent free while the landlord is still the owner, even if the house is going through the process of foreclosure.
You are correct that in the absence of a written lease, you are considered to be a month to month renter. If you wish you can terminate this lease with a 30 day written notice.
Gail
You are correct that in the absence of a written lease, you are considered to be a month to month renter. If you wish you can terminate this lease with a 30 day written notice.
Gail
jacksgal
New Member
Gail this poster has posted on another site and has been asked if he has paid rent. He has not yet answered. It seems based on his post he may not have paid June rent yet. This changes the situation some.
Zan have you paid June rent?
Zan have you paid June rent?
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