Upcoming Foreclosures

The the property I live in is now bank owned as a result as a foreclosure. Do I now owe rent to the bank?

I have been paying rent to the landlord for the past few months, as I know I should have. Tonight, I found out the bank owns the house. My rent is due tomorrow. I face a Cash for Keys offer or the 90 day option under federal law. In the mean time, do I owe rent to the new owner - the bank?

Public Comments

1. You need to contact the bank right away. If they house has been foreclosed on the previous owner should not be living their or collecting any income from the property. You need to be working with the bank to negotiate a deal.
2. Yes, you have the option of renting from the bank for 90 days, which is federally mandated. You will forfeit the Cash for keys of you opt to pay them rent instead.