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While you have some protection under new federal law: like being able to stay 90 days or length of lease term under certain facts: The law does not require the lender to issue you a long term lease if you are currently month to month, and in reality the lender will not hamper the resale so most likely you will be stuck in month to month hoping the new buyers are investors wanting you to stay, but if the buyers wish to occupy the house you will be force out You can not inhibit showings which follow your state law notice requirement, so yes realtor will be allowed to show the place while you are living in it, look up your state laws to see amount of notice required to show and hold the realtor to those notice time frame Also your security deposit did not transfer to the lender if they judicially foreclosed upon the property thereby if you wish to get the SD back you will have to sue the old owners

by goz1111

1 month ago

Asker's Rating: 

If you had a written lease for a year or more, then the new owner (bank) is required to allow you to complete the term of your lease. If your term expired, or you had no written lease, or it was month-to-month, there is no obligation to renew. If they offer you rental terms, like month-to-month, you take it or leave it. They can give you 30 day notice anytime - UNLESS you have time left on a written lease. There are plenty of houses available for rent these days. Moving is a pain in the you-know, but you might find a better house for less!

by ibu guru- 1 month ago

Unfortunately you don't have much say so. Once the bank forecloses on the house they can do what they want. The issue is that the "owners" never really owned the house. The bank has always owned the house because they are the lien holders. They financed the house to the owners on the premise that once the loan is paid off they (the owners) will truly own the house. Since those owners defaulted on a debt, they bank comes in and says we're taking our house back. They don't care about you. They didn't sign a contract or mortgage with you. They did so with the owners who defaulted. You could probably take the "owners" to court but if they defaulted on their mortgage but you signed a lease with them for a period and that period wasn't fulfilled you might be entitled to some damages for cost of moving etc. But that would only apply if you signed a less for example, for 1 year but 6 months in to it you ran into your current situation. But if they defaulted on their loan then they probably don't have money to begin with. If you've always been on a month-to-month then the bank/Fannie Mae can evict you with 30-days notice at anytime or you could move at anytime. Not sure who you're paying month-to-month rent to, but if you've signed that agreement with Fannie Mae (or the bank that took over the property) then I'm positive they made you sign a contract that stipulates they can "show" the home.

by derrickisonline- 1 month ago