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  1. #1
    Join Date
    Apr 2008

    Default Can I Stay Until The Mortgage Company Makes Me Leave?

    My question involves a foreclosure in the State of: Michigan
    I month to month leased a home on Oct. 5 of 2007 from a real estate agency acting as an agent for the homeowners. I am currently paid to Apr. 1 of 2008. I have recently found out that as of Jul. 30 of 2007 the homeowners had defaulted on their mortgage. I found this out due to a notice put on my door that stated that the mortgage will be foreclosed by sale of the mortgaged premises in circuit court on Apr. 23 of 2008. I looked up the register of deeds and it says that on Mar. 31 of 2008 there was an assignment of the said property from the grantor (homeowner) to the grantee (mortgage company). 1. does this mean that the mortgage company now owns this home? 2. could they have legally leased me this property since they went into default of mortgage before I moved in? ( if not, am I entitled to all my lease payments back?) 3. does the realtor now owe me my security deposit back within 30 days since I am currently paid to Apr. 1 and the homeowners no longer own this place since Mar. 31? 4. can the realtor evict me if their client no longer owns the home? Because I am being harassed by them to be evicted. They had an eviction process try to go through that said I never paid Feb. or Mar. rent but I had reciepts to dispute so they are saying that "I will be evicted" ( very nastily) and that this eviction will be put on hold and they will start another one.

    The home was up for sale or rent for a long time before I moved in. The realtor says he knew nothing of said foreclosure but if he was trying to sell the home for them would he not know by doing a check long ago that it was in foreclosure before he leased to me?

    I also done some checking with the township and the original homeowners never registered as a rental property, only homestead.

    What are my rights? and can I stay until the mortgage company wants me to leave? Who do I pay and do I have to pay? HELP...

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Can I Stay Until The Mortgage Company Makes Me Leave?

    You're not entitled to a refund of past rent because of the foreclosure.

    The realtor simply rented the place to you, or they're the property manager for the (former) owner? I suggest not paying rent until it is clear that they represent the current owner. Don't spend it, though - keep it in the bank.

    If the lender worked something out to gain title rather than going through a foreclosure, they may be bound to honor the rest of your lease - I would want to know the details of the transaction to comment on that. They may nonetheless offer you "cash for keys" to agree to move out by a particular date, leaving the premises in good condition.

  3. #3
    Join Date
    Feb 2008
    Austin, TX

    Default Re: Can I Stay Until The Mortgage Company Makes Me Leave?

    Yes, normally you can stay until you're evicted from the property by the mortgage company that foreclosed. Here in Texas a Sheriff's Deputy typically comes 'round shortly after the sale to post notice that the property was foreclosed on and will, at that time, ask anyone living in the property to vacate. I would assume that Michigan is similar with regards to the property seizure after foreclosure process.

    Sorry that happened to you.

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