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  1. #1
    Join Date
    Jun 2011
    Posts
    157

    Default Renters and Foreclosure

    My question involves a mortgage in the state of: Ohio

    I found out several days ago, that the house my husband and I have been renting for the past 7 years is in foreclosure. Our landlord never informed us of the foreclosure, nor did we receive anything from the court. I found out via an Internet search of court records.

    My husband and I already gave our landlord notice in June, of our intent to move out at the end of July, prior to finding out about the the foreclosure, as we had found another place to live. We are currently on a month to month lease.

    My question now is, are we obligated to pay our landlord the last month's rent (July rent), due the foreclosure? Can we just tell our landlord to take the last month's rent from our security deposit?

    Also, from what I've found online, our landlord also had put the house up for sale this past February - he took it off the market in June, but had never informed us that it was up for sale. Was he legally obligated to do so?

    Thanks in advance for any replies.

  2. #2
    Join Date
    Sep 2012
    Posts
    1,991

    Default Re: Renters and Foreclosure

    the foreclosure has nothing to do with you until and unless the bank takes possession of the property via court order while you are still living there.

    if you don't pay your rent expect to be sued and have your credit trashed, a judgement from a previous landlord will make it very difficult to find apartments.

  3. #3
    Join Date
    Jun 2011
    Posts
    157

    Default Re: Renters and Foreclosure

    What about that Protecting Tenants at Foreclosure Act? Doesn't that specify that tenants have the right to be notified if the home they are living in is in foreclosure? From what I can tell, my landlord likely hasn't paid his mortgage since last winter, even though he's been collecting our rent every month.

    What if we hadn't decided to move, didn't know about the foreclosure, and he just kept collecting the rent, until we got put out by the sheriff, if or when the house sells at a sheriff's sale? That would be OK?!

  4. #4
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Renters and Foreclosure

    No there is no such notice required. There's nothing that says he isn't entitled to rent just because he's defaulting on the loan.

    What you are entitled to is at least 90 days notice (and that is only if the new owner choses to occupy the property) otherwise your lease continues.

  5. #5
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: Renters and Foreclosure

    Quote Quoting Blossom
    View Post
    What about that Protecting Tenants at Foreclosure Act? Doesn't that specify that tenants have the right to be notified if the home they are living in is in foreclosure?
    No.

    That's not what it says.

    Read it at:

    http://www.usfn.org/AM/Template.cfm?...ontentID=13253

    Quote Quoting Blossom
    View Post
    From what I can tell, my landlord likely hasn't paid his mortgage since last winter, even though he's been collecting our rent every month.
    That's between him and his lender. Has nothing to do with you.

    Quote Quoting Blossom
    View Post
    What if we hadn't decided to move, didn't know about the foreclosure, and he just kept collecting the rent, until we got put out by the sheriff, if or when the house sells at a sheriff's sale? That would be OK?!
    No.

    It wouldn't be OK.

    When the house sells at a sheriff's sale you would be given 90 days notice of termination. You would not be put out unless you stayed past the 90 days.

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