foreclosure on a rented house

[erniekarak]

hey i have a tough situation, my family (mother, 2 brothers and 1 sister) are living in a rented house, come to find out the landlord has not been paying for his mortgage. i also found out that he got an equity loan on the house which was not needed so now the value of the house has increased. Me and my mother tried to get a loan to buy the house but i had insuffiecient credit and my mother made a low income

what could we do?

 

[CdwJava]

I suggest you start looking for another place to live in case the bank or the new owners decide they don't want tenants.

Hopefully you have a lease in place to at least help protect you from being booted out on your ears.

good luck.

- Carl