Is my apartment’s landlord in danger of foreclosure?
In the past I had the option of mailing my rent to my landlord or applying it directly to his mortgage payment at his bank. I asked him this month if he minded if I did that and he said his payment has been reduced and my rent would be significantly more than the payment.
Is this a sign that he was delinquent on his mortgage to get a different minimum payment? What happens to me if they foreclose on the place? When does he have to tell me?
Thank you in advance for your answer.
Quick House Sale
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3 Responses to “Is my apartment’s landlord in danger of foreclosure?”
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July 18th, 2009 at 10:09 am
I suppose it is possible that he refinanced the house.
July 18th, 2009 at 12:54 pm
There are numerous reasons for which his monthly payment may have been reduced. Refinance comes to mind as the most viable. The landlord never HAS to tell you that foreclosure is imminent. Besides, you will find out in other ways if that is to occur.
If a foreclosure occurs, any lease you have is void at the time of ownership change. Whether or not to allow you to continue to rent the premises is at the sole discretion of the new owner. If they decide not, you would have approximately one month to vacate and find new accommodations.
July 19th, 2009 at 4:04 pm
U enkel bent paranoïde. Ik betwijfel zij zijn betaling zouden verminderen als hij niet betaalde.
Hij moet niet juridisch u over om het even welke verhindering vertellen. U moet juridisch huur tot de dag betalen u zich uit beweegt. U zult een bericht krijgen als om het even welke verhindering ingediend wordt, en de bank zal u bericht geven vrij te maken.