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Re:tenant eviction (1 viewing) (1) Guest
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TOPIC: Re:tenant eviction
#7019
sly (User)
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tenant eviction 7 Years, 6 Months ago Karma: 0  
My brother is renting a house and most of the mail for the landlord is addressed to the house. Recently my brother discovered that the house was in foreclosure and we need to know whether he should continue making payment of rent and what will happen when the bank takes the property thru foreclosure? Right now my brother is renting month to month without a lease. How long will he be able to continue renting month to month and when will the bank take possession if the bank took the property by foreclosure ?
 
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#7043
Brian (User)
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Re:tenant eviction 7 Years, 6 Months ago Karma: 1  
Your brother can pay rent to an escrow agent to hold the rent for either the bank if the bank takes the proeprty after the landlord's equitable period of redemption expires or if the landlord redeems the property, the escrow agent can deliver the escrow money to the landlord.

Chances are that the landlord will not redeem the property and the bank will just take it. That being the case, tell your brother not to pay rent and live there for free as a squatter until the bank kicks him out. He can you the money he saved toward the purchase of a new house.
 
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