Thread: Foreclosed Landlord requests rent

I received a notice looking for occupants at my rental unit. Upon calling the number on it, I learned that the property was foreclosed recently. I verified this with the county deed office, but when I asked for my security deposit back, my landlord refused. My landlord said that I still owe rent because they only sold the “interest” and not the “said property”. My landlord is requesting rent. Do I owe my landlord, or does the property reside with the bank? Says she is still waiting for the fair market price??

I wouldn't pay anything personally until you verify the claims made by your landlord; they commonly still try to collect rent even when the apartment building is up for foreclouser.

I have confirmed that the landlord is still listed as an owner on the deed. Since it is in redemption period, I have another question. I didn't renew my lease but have been paying since the first of January. I believe that in Michigan, this may constitute an unwritten (month-to-month) lease (?) Does anyone know if these still bind during a redemption period?

You need to check with your local HUD office to find out exactly what the procedure is for paying rent, however I believe that you would in fact continue paying the rent to whomever owns the deed and at this point it is the current owner.

You may want to try contacting the bank as well. They aren't going to give you info specific about your landlord, but they would probably answer a question like: when you guys are foreclosing on a rental property when do I stop paying the previous owner and start paying the bank? Something more generic.

And, yes you are considered on a month-to-month lease now. And if any of the above still hold true, it would be applicable on a month-to-month.

Also, you would not get your deposit back from the current owner of bank or next owner until you actually move out. All of the deposit info continues to the new owner whoever that ends up being. It is all transferred in escrow.

Good information!

Yap you are considered on a month-to-month lease now, it is a great move that you went to certain offices for assurance about the situation.

In order to turn a profit in the foreclosure home investing circuit, all you need is a little capital and some elbow grease! In other words, it is advisable to fix up the foreclosed homes that you buy before you can rent them out or resell them. If you are planning to buy a foreclosed home, driven by the preconceived notion that you will be able to get rid of it easily, let me tell you that this need not be the case always.

Wanda Bailey Johnson has been renting 228 Woodham Avenue since March. She attended church, worked as a sales representative at the Flying J and provided shelter for her 12-year-old son and two daughters, ages 15 and 20. Her children were to attend school this fall.But at 6 a.m. Friday, Johnson and her children were busy loading tables, chairs, groceries and their other belongings onto a Budget Rent-a-Truck that sat in her driveway. At about 9 a.m. a sheriff’s deputy, looking for Johnson’s landlord, presented her with a notice to vacate the premises.My son says I can stay with him, Johnson said, adding that she’s moving back down to South Los Angeles to live with her older son Elijah. I got to quit my job. How can I not According to Fair Housing Investigator Debbie Brand, who works out of the Barstow office of the Inland Fair Housing and Mediation Board, the house Johnson lived in was foreclosed upon in April. Once foreclosure proceedings are started, Brand said the landlord must notify his tenants and give them either a 30 or a 60 day notice to vacate. If the tenant wants to they can leave, if not they can stay in the home and continue to pay rent, she said.