Mortgage Foreclosure Pa
April 30th, 2007
Mortgage Foreclosure Pa
Question: I live in Phila pa. I've been renting this property for about 21/2 yrs.?
My rent is paid every month and is current. I just found out last week that my landlord hasn't paid the mortgage sine Feb and it is now Oct. I'm furious and I think this whole situation is unfair. I REFUSE TO PAY HIM ANOTHER DIME! I'm lost and I don't know what to do. I have two young sons to think about. I've taken steps to put the money in escrow or a seperate account. The house is in FORECLOSURE. What should I do?
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Answer: I don't blame you a bit for being mad---but you risk eviction for non-payment even though he isn't making his payments...foreclosure proceedings can carry on for many months and you are taking a serious risk by holding back the rent if you are under a Lease..Most lenders are required to work with tenants if they received TARP funds and either way your lease terms apply if someone purchases the home. Hang in there and do the right thing----you may be allowed to stay or be offered cash for keys.
Fannie Mae Freedie Mac Mortgage Foreclosure
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