Recently before I left town for Christmas break I had an enveloped stapled to my door for my landlord who doesnt live in same city as me. Well wondering what it was I opened it and found out my apartment is going into foreclosure (not sure if im suppose to know this as the renter, but now I do). My landlord has obv said nothing about this and up to this point all our payments have been made. Including the security deposit. We have signed the lease through April. My roomate is planning on calling the landlord tommorow and just explaining to him there is a note for him on the door and what does he want us to do with it (acting like we dont know anything about what the note says). Anyways I wont make this too long because I dont have many details. I was basically wondering if anyone has had this happen to them before? Also, do you think we should we go ahead and pay Jan. rent? Me and my roomate dont think we should until we figure out WTF is going on with our pad. Any advice anyone has would be much appreciate. Thanks and Happy New Year.

you def have rights as a renter that will make it tougher for the lien holder to foreclose on the property. but i'd start looking for a new place to live to get a jumpstart on it, and it prob wouldn't hurt to talk with an attorney in regards to your money as far as rent/security deposits go, going forward.

But keep paying your rent, just because the owner is being foreclosed on doesn't absolve you of the contract you have to rent the property. you don't want to come home to an eviction notice.

 

Originally Posted by BigJohn804

just because the owner is being foreclosed on doesn't absolve you of the contract you have to rent the property.

and if the landlord doesnt hold up his end of the lease, it is null and void....you then are not subject to the T&Cs of the agreement....

 

Originally Posted by -AG-

throw a party...

hahah who wants to go snowboarding?

Laws are different from state to state but I would pay my rent. It takes months for a foreclosure to happen in FL. Usually there is an assignment of rents for properties like this the the landlord signed with his lender and a lot of times after the preliminary hearings you will make payments to the lender. I do know you have more rights than the average homeowner that is being foreclosed on, as long as you are paying your rent.

 

Originally Posted by bluefin

Why would you open someone's else's mail or certified letter?

HAHA i knew someone would ask this, it was'nt from US Mail or anything. It was in a crinkled up envelope and just said my landlords name and our APT #. Didnt think its was anything big time.

 

Originally Posted by PizzityPizzwnd

HAHA i knew someone would ask this, it was'nt from US Mail or anything. It was in a crinkled up envelope and just said my landlords name and our APT #. Didnt think its was anything big time.

So a foreclosure notice in a crinkled up enevelope is stapled to your door for someone else. I mean, I guess that is how lenders usually go about their business for these official notice type of things.

Im a process server and it actually is legal to tack it to the door it counts as RSTD which is resident Service Tacked to Door. Alot of times though the companys will want you to obtain Personal Service by handing it to the person so they can't come up with a reason as to never reciving it.

You have 90 days or until the end of your lease as per the ‘Protecting Tenants at Foreclosure Act of 2009'.

 

TITLE VII--PROTECTING TENANTS AT FORECLOSURE ACT
SEC. 701. SHORT TITLE.
This title may be cited as the `Protecting Tenants at Foreclosure Act of 2009'.

SEC. 702. EFFECT OF FORECLOSURE ON PREEXISTING TENANCY.
(a) In General- In the case of any foreclosure on a federally-related mortgage loan or on any dwelling or residential real property after the date of enactment of this title, any immediate successor in interest in such property pursuant to the foreclosure shall assume such interest subject to--
(1) the provision, by such successor in interest of a notice to vacate to any bona fide tenant at least 90 days before the effective date of such notice; and
(2) the rights of any bona fide tenant, as of the date of such notice of foreclosure--
(A) under any bona fide lease entered into before the notice of foreclosure to occupy the premises until the end of the remaining term of the lease, except that a successor in interest may terminate a lease effective on the date of sale of the unit to a purchaser who will occupy the unit as a primary residence, subject to the receipt by the tenant of the 90 day notice under paragraph (1); or
(B) without a lease or with a lease terminable at will under State law, subject to the receipt by the tenant of the 90 day notice under subsection (1),
except that nothing under this section shall affect the requirements for termination of any Federal- or State-subsidized tenancy or of any State or local law that provides longer time periods or other additional protections for tenants.
(b) Bona Fide Lease or Tenancy- For purposes of this section, a lease or tenancy shall be considered bona fide only if--
(1) the mortgagor or the child, spouse, or parent of the mortgagor under the contract is not the tenant;
(2) the lease or tenancy was the result of an arms-length transaction; and
(3) the lease or tenancy requires the receipt of rent that is not substantially less than fair market rent for the property or the unit's rent is reduced or subsidized due to a Federal, State, or local subsidy.
(c) Definition- For purposes of this section, the term `federally-related mortgage loan' has the same meaning as in section 3 of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2602).

SEC. 703. EFFECT OF FORECLOSURE ON SECTION 8 TENANCIES. Section 8(o)(7) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)(7)) is amended--
(1) by inserting before the semicolon in subparagraph (C) the following: `and in the case of an owner who is an immediate successor in interest pursuant to foreclosure during the term of the lease vacating the property prior to sale shall not constitute other good cause, except that the owner may terminate the tenancy effective on the date of transfer of the unit to the owner if the owner--
`(i) will occupy the unit as a primary residence; and
`(ii) has provided the tenant a notice to vacate at least 90 days before the effective date of such notice.'; and
(2) by inserting at the end of subparagraph (F) the following: `In the case of any foreclosure on any federally-related mortgage loan (as that term is defined in section 3 of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2602)) or on any residential real property in which a recipient of assistance under this subsection resides, the immediate successor in interest in such property pursuant to the foreclosure shall assume such interest subject to the lease between the prior owner and the tenant and to the housing assistance payments contract between the prior owner and the public housing agency for the occupied unit, except that this provision and the provisions related to foreclosure in subparagraph (C) shall not shall not affect any State or local law that provides longer time periods or other additional protections for tenants.'.

SEC. 704. SUNSET.
This title, and any amendments made by this title are repealed, and the requirements under this title shall terminate, on December 31, 2012.

You can likely get assistance with enforcing this through HUD so call them. Fannie Mae's website also has information on this.