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Forclosure of the house I'm renting was to go to auction today?
I just seen it was cancelled by Bankruptcy, and what does that mean for me, the renter?
But the sale was cancelled? So Im not sure what that means for me for now.
4 Answers
- Steve DLv 79 years agoFavorite Answer
It should mean nothing for you at this time. By filing for bankruptcy, the owner has at a minimum postponed the auction and will retain ownership of the house. Pending further developments, you should continue to make your normal rent payment to the current owner.
- YahooDeanaLv 69 years ago
Best to plan to move as oftentimes bankruptcy is just a delay in the person's financial demise.
It's likely it will go into a bankruptcy along with other assets and go up for sale through the bankruptcy court instead of the lender.
All this info is online if you want more details.
- A HunchLv 79 years ago
It means nothing to you.
If you have a fixed term lease, the lease is still in effect and if you break it the owner can come after you for the broken lease (if and when the house is sold, the new older is required to abide by the lease term also).
If you are on a month to month, you only need to give your landlord 30 days notice and move.
- R TLv 79 years ago
That's uncertian.
If the house gets sold, your status would be determined by the new owner and what they want to do.
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