Upcoming Foreclosures

Renters rights within a foreclosed home to be sold at auction?

So I know this question has been asked on here a couple of times, but I have yet to find the same situation as I am in. I have had a suspicion for the past couple of months that the owner of the rental house I am in has been in default. I have contacted my rental agency on numerous occasions questions the owner default and have always been told "it will be taken care of, the owner assured me of this". However, for the past week, I have been having many knocks at the door with people dropping off ads to help stop foreclosure. I checked realtytrac.com today just to ensure my suspicions were correct and sure enough, I was right. Only, it turns out our rental home will be going up for auction next Wednesday! I have not been notified about anything and I understand that this is normal, but I am exremely frustrated. I am meeting with my agency tomorrow to discuss my findings, but I wanted to get some opinions. Is it normal for an agency to return a deposit when one of their clients goes into default? My contract is with my rental agency, not the owner, so I would assume my circumstances will differ a bit than it would through the owner. Also, if the house is being auctioned on Wednesday, does this mean I have until then to vacate? I understand that sometimes whomever purchases the home will sometimes decided to keep the renters, but I do not want to chance being told to vacate with a 3 day notice. Also, I have heard from a couple of people that I can collect any rent that I have paid since the owner has been in default. I'm not sure I believe this, but someone on here knows? Has anyone experienced this or have any advice? BTW, I am in Nevada, so I'm not sure if the law differs here with regards to foreclosures. Thanks for any help in advance.

Public Comments

1. No, you can not recollect rent. You pay rent to use a home - if you have been using it, you got what you paid for. As far as the foreclosure, very often, if the home was purchased in the last couple years, the bank will make sure that they get it back at auction and then put it on the market themselves. If it is bank owned, they usually do not move forward with evictions because they are already going to lose money on this property. They will try to minimize the damage.