legalnovice
New Member
I am currently a tenant in a home that has been foreclosed on. The home was purchased by the bank and then turned over to Freddie Mac. I have another year and a half on my lease and have no desire to move. My payments are current and have never been late. I only found out about the foreclosure this week although the home was auctioned in February of this year. In researching I have found that the home was originally in foreclosure back in 2006 with the owner paying what was due and having that case dismissed. Then another foreclosure was filed in 2008 and it dragged on within the court system and was stayed due to bankruptcy in 2009. I am assuming that there was not an agreement made between the owner and the bank because the stay was lifted and the foreclosure proceeded. I am concerned that I may be in a vulnerable position with no legal recourse. I have read about a law enacted in 2009 that protect the rights of a tenant with a lease in effect at the time of foreclosure. My lease was signed during the stay of foreclosure due to bankruptcy and the law being signed by Obama. My lease payment is due on the 15th.
1. Am I protected under the law?
2. Should I start an escrow account to hold payments until I find out where or whom to pay? If so, should this be done with the court or with a bank?
1. Am I protected under the law?
2. Should I start an escrow account to hold payments until I find out where or whom to pay? If so, should this be done with the court or with a bank?