What Happens in Pre Forclosure?

Question

I am renting and the lanlord is now in pre forclosure. I was served papers.

Answer 1

usually in these matters, this is what happens. You can stay there as long as you have already paid. In some states you can stay till the end of the lease. I would contact the new note owner and sak if I could stay or ask for an extension of lease. They cannot kick you out on the street without a court order. In fact you have more rights to stay as a tennant than the new owners do with the property at this point. I would just call them? who knows what can happen. But, if they do get a court order for u to vacate, they will give a reasonable amount of time for you to be able to move somewhere else.Hope that helps?

Answer 2

The laws are different, but here in Missouri the next notice you would receive would be a 10 days to vacate notice.  I'm not exactly sure on the timing, but you need to find someplace to move now.  Some mortgage companies will allow tenants to stay and continue renting, but most will not.

Good luck!