Rental House Being Foreclosed?

Talk about a tight spot...John is renting a house that is getting foreclosed on.

QUESTION: John rents a home that is being foreclosed on next Tuesday. The owners didn’t tell them that the house was going into foreclosure. Should he pay the rent for this month?

ANSWER: No way.  Bottom line is your giving this guy the money and he's not paying the bill.  I would not pay the rent until he returns your phone call and gives you an answer on what is going on with the house you're living in.

I'd also ask your real estate friend what your rights are in a situation like this.  If the house is foreclosed, I'm sure you'll have at least 30 days to get out.

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