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RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 28010
Experience:  10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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I am renting a home and it started needing repairs. The landlord

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I am renting a home and it started needing repairs. The landlord told me the truth that the home was in foreclosure close to the end and that she can not make any repairs. She told me if I want I could stay until they take the home and do the repairs myself. They have my security deposit, but she said I would break even or make money, but will not lose out. The issue is I saw in the court records that they put a motion to schedule a sale, so it will be really soon. I should break even when it is all said and done. However, my problem is that we are moving out of state when kids finish school end of may, so would like to stay here even if need to pay bank rent when house is sold. It will be such a hassle to move then move again. I can not move out of state sooner since the house I will be moving to will not be ready until June. I was wondering if you have any advice or what is the law on how I could stay in the home until end of may. Could I go to the foreclosure sale and explain my situation? Do I have any rights? My lease expired and the landlord said she would make a lease for me to be able to stay, but now she doesn't answer her phone and she lives out of state.
Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help solve your problem.

Good evening. I certainly understand the situation and your concern. You do have rights and are protected, under the Protecting Tenants at Foreclosure Act. Under this law, the immediate successor in interest of a dwelling or residential real property must provide tenants with a notice to vacate at least 90 days before the effective date of such notice. The date of a "notice of foreclosure" is defined as the date on which complete title to a property is transferred to a successor entity or a person as a result of a court order or pursuant to provisions in a mortgage, deed of trust, or security deed. Tenants also must be permitted to stay in the residence until the end of their leases, with two exceptions: (1) When the property is sold after foreclosure to a purchaser who will occupy the property as a primary residence or (2) When there is no lease or the lease is terminable at will under state . However, even when these exceptions apply, tenants must still receive 90 days notice before they may be evicted. Seeing how the lease is expired and you need more then 90 days, you would need to speak with the lender or the third party purchaser, to see if they would allow you to remain until May. The only other option is to see if they would agree to a keys for cash deal, to get you to vacate sooner, if it is worth it for your financially. There needs to be a legal basis to stay the sale and since a date is already set, you would need to file a motion now, to go before the Judge. As a tenant, it is unlikely that the Judge will stay or delay the sale, just so you can stay, since the lender has lost money and interest all this time, while the owner has failed to pay the mortgage and needs to take the property back.
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Customer: replied 4 years ago.
Thank you so much for your help. Do you have any idea how much cash they offer for keys? Also, do you think it would be worth for me to make a motion? Thanks again!
The price really varies. If you are contacted by the Realtor from the bank or the third party purchased, you can inquire about it and see if they will agree. It is at their discretion but it is often done, to assure the tenant leaves in a timely manner and does not destroy the property. I personally do not think the Judge will cancel or stay the sale, just to allow you more time to live there, since the new owner may want possession. Can you try? Certainly. Do I think it will be effective? Not likely.
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