California Foreclosure

[drpfeiff32]

I am currently living in a rental property in california, and like many, found out the house is in default and that the landlord hasn't been paying the mortage. Me and my roommates have been tracking the progess on a preforeclosure website, and we assumed the trustee sale date would be set 90 days after the filing of the notice of default, which was december 18. 90 days came and went, and when I got in contact with the company, they said there had been a temporary "hold" on the proceddings. any idea of why?

[Micheal Pannell Realtor]

I hope you stop paying rent? I think there has been a hold on Foreclosure in California and other areas. I am not sure.

[Norcal Jim]

Because there is a moritorium on forclosures.

[DMG]

orig by Micheal Pannell Realtor - I hope you stop paying rent?

Can they do that? I may be wrong and perhaps different in every state but if it's in the redemption period doesnt the landlord have the right to still collect rent?

drpfeiff32 - Micheal made a good point, can't be sure why they said what they did but many areas have holds and various things going on with foreclosures right now as laws are changing and new ways to deal with foreclosures are coming up and being developed so that may be why. I know in our area there is a hold on most foreclosures while systems are put in place, I assume same elsewhere?

[Norcal Jim]

Yes they did http://www.realestateproarticles.com...orium-Law.html look out for the wave in May/June.

[AnnAnderson1015]

You can stop making rental payments to him because by law if he doesn't make payments on his mortgage, he should not be accepting rent money. I have seen this type of case before. Check with your lawyer.

[DMG]

I am still not convinced you can just stop paying rent? I agree 100% "you need to ask a lawyer" and see what he or she says and it may be different in each state?

In Minnesota during the redemption period from what I have, heard / seen and read the renter is still obligated under the rental contract they have as the person collecting the rent is still obligated to keep repaired etc if they choose to rent it.

Here is a good link for Minnesota anyway www dot homelinemn dot org/foreclosure.html

Ask your lawyer though no matter what you read on-line but I think one would need to clarify "local" law prior to stop payment. I have spoke to the Minneapolis hot line here before on this issue and they have told me the rental agreement remains but the bank must give renter 60 day notice before taking over or changing the locks.

[LandInvestor]

This is very unfortunate. I have a friend who this has just happened to and she stopped paying the rent for a couple months until she finally moved out and found something else. Seems like there should be something that there should be something that could be done about this. I'm sure this is happening all over the country right now.

[NORCAL wholesale]

Yes they did http://www.realestateproarticles.com...orium-Law.html look out for the wave in May/June.

Not if I can help it

I'm going to trustee sales again

[svrpaul]

The Foreclosure Moratorium that was put in place...

Norcal Jim is right on... there is a major flood of foreclosures that will be coming soon due to the moratorium that was put in place..... Which will be the fuel for Turbo Tax Tim to make the deals with his banking buddies on buying notes for pennies on the dollar with taxpayers guaranteeing the risk.

Companies are already being lined up for this....

It will be a "Crisis" so you better sign on! LOL!!!

As for Paying Rent while the owner is not paying their Mortgage:

Depends on the state laws since States Regulate Real Estate Laws for the time being until the Real Estate Czar is created..

In Nevada.. you still have to pay rent even if the owner is not paying the Mortgage until the property is foreclosed on and title is transferred.

HOWEVER... I've never come across an owner who stopped paying their mortgage go after a tenant who stopped paying their rent. NOT TO SAY they could...