
Real estate law. The rent I’m paying, isn’t being used to pay the mortgage?
I’m in California. The owners of this rental i’m in haven’t paid the mortgage for 6 months. Notice of default was filed on 7/19/07. They were given 90 days to get current or sell. Or the house goes on the auction block Oct 18th. Why are they entitled to any more rent? If legally I have to continue paying rent. The law needs to be changed.
What is going to happen after the sale? When can I expect to be kicked out?
In general the lease will be wipe out at foreclosure,
Once the first note forecloses all notes, liens, leases that encumbrance the property and are junior to the first note are wipe out, few exceptions for federal tax, state tax, local tax and local utilities stay with the land and are not wipe out
so better start to save for a new place, but their is always the chance who ever buys the place may want a renter
Real Estate AUCTION in Riverside, CA w/ Mike Grigg, Elite Auctions
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