Foreclosure/lease HELP

[bd40pe]

I am currently renting a house from an Idividual property owner in South Florida the lease is through June 30, 2008. We recieved word on Friday that the house was being foreclosed and has been in default since october 07.

Is the lease still binding? Can I move out? What is my obligation to the landlord?

Will the bank take possesion of the property with my stuff inside? If so, what kind of timeframe do I have before this happens?

 

[seniorjudge]

You will be able to get your stuff out.

Start looking for another place OR talk to the lender and see if you can continue renting.

 

[bd40pe]

So if i move out the Lessor cannot come after me for the remainder of the value of the lease?

 

[seniorjudge]

So if i move out the Lessor cannot come after me for the remainder of the value of the lease?

After the foreclosure, the lessor will not own the place anymore.