rental schimming : ezLandlordForms

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Pat J

started a topic about 12 years ago

I recently started renting a condo,end of April 2012. I have since learned my landlord(owner) has not paid his mortgage on condo since 5/2012 and is in default facing eviction. I have been paying him ever since. I don't understand why he is taking my money and not paying mortgage. What he is behind in is less then what I pay in 2 months rent. What happens if the bank forcloses on the property? My lease is until 4/2013.

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Bob R

said about 12 years ago

You stated landlord “is in default facing eviction.” Is it eviction or foreclosure? If it eviction, are you sharing the Condo with landlord?

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Dawn A

said about 12 years ago

I think Pat meant that the landlord is facing foreclosure and got the terms mixed up. What will happen is that foreclosure sometimes takes a while, so you won't be out on the streets tomorrow. Sometimes there are tenants of bank owned properties, but I don't see them there for long. Sometimes the best thing to do is hope someone buys it and takes you on as a tenant or wait it out until the lease ends and then move. Unfortunately, I have heard lots of stories in the past year about people applying for one of my units because the place they're living in is going into foreclosure because they've been paying the landlord and the landlord is not paying on their mortgage.

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Bob R

said about 12 years ago

@ Dawn: that may be true (terms mixed up), but Pat appears to know a lot about the landlord’s finances which may indicate that landlord lives there and renting a room to Pat. If landlord is living in the unit being foreclosed on, than landlord might be “evicted” by the bank. I’m just looking it in another way. Hoping for a clarification.