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Answers (4)
- Sharon Lewis, "Sharon Lewis"
- Contributions:3923
Keep paying.....Talk to your landlord to get the lowdown on what is going on.Ask them if they are 'safekeeping' your last months rent/security deposit. Ask them if they plan on bringing money to the table if they sell this house. Potentially someone could buy this home and keep you on as a tenant. Ask to speak to your landlords attorney.
- Michael Emery, "MikeEmery"
- Contributions:7298
What happens when you don't pay rent? Your landlord (who is still the legal owner until the bank takes the property back) can file an Unlawful Detainer or UD against you for failure to pay rent. What's bad about a UD? It makes it im-possible to rent again if the landlord / property manager does a background check. A UD is the scarlet letter on a renters record.
- Mack McCoy
- Contributions:1117
To amplify, you're obligated to pay rent regardless of whether your landlord is paying their bills or not. However - you and your neighbors do have reason to be concerned about your deposits, because there's a decent chance that the landlord might not be safekeeping your deposits to return to you.
- wetdawgs
- Contributions:26842
The moment you stop paying rent, you lose all rights as a renter and eviction proceedings may start as per your state's laws. Your rental contract is between you and the landlord, not you and the lender. A short sale does not mean necessarily that the landlord is not paying the mortgage, simply that the landlord owes more on the home than the potential sales price.
Should I still pay rent if my rental is in a short sale with the likelihood of foreclosing?
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