Real Estate

apartment i’m renting is in foreclosure.person who owns it is taking monthly rent and putting it in his pocket. We pay a realty company. what options do I have? Do I have to keep paying on this contract even though money given is not going too purpose of the payments? Contract is with realty comp. not owner of apt. being foreclosed on. Payments have not been payed on for 6 mths. Do I have to keep paying total amount of rent or are there options I can take to possibly stop giving this person my money for free?

Is there a way to pay the reality company directly? If not keep record of all your payments because that’s the proof that you have the you are making payments. Just because the person who currently owns it is pocketing the money doesn’t keep you from making payments on the place you are renting. ( You are living there- it’s not suppose to be for free. ) It’s not your fault that he/she is not giving the money to the correct company. Since you are still living there you should continue to make payments otherwise you can get evicted for non payment and be taken to court or get a collections on the rent owed. I would also contact the reality company directly and see what they want to do about this situation- I am sure that they want all the money that is owed to them.

4 Responses

1. Megan G Says:
   March 2nd, 2010 at 10:45 am

   Because your contract is with the realty company, you really should not reduce or stop your monthly rent payments. It will reflect poorly on your credit, it may get you evicted, and you may have trouble finding another company that will rent to you afterwards.

   You should start looking, however, for another place to live. The foreclosure is surely a legal reason to break your lease.
   References :

2. bob shark Says:
   March 2nd, 2010 at 11:12 am

   You are living there, you must pay rent. where the rent goes is none of your business…BUT MAKE SURE YOU RECEIVE AND KEEP RECEIPTS FOR YOUR PAYMENTS.
   References :

3. Zoe Ferret Says:
   March 2nd, 2010 at 11:54 am

   Is there a way to pay the reality company directly? If not keep record of all your payments because that’s the proof that you have the you are making payments. Just because the person who currently owns it is pocketing the money doesn’t keep you from making payments on the place you are renting. ( You are living there- it’s not suppose to be for free. ) It’s not your fault that he/she is not giving the money to the correct company. Since you are still living there you should continue to make payments otherwise you can get evicted for non payment and be taken to court or get a collections on the rent owed. I would also contact the reality company directly and see what they want to do about this situation- I am sure that they want all the money that is owed to them.
   References :

4. pops Says:
   March 2nd, 2010 at 12:32 pm

   If you are not paying your bills, should your employer stop paying you?

   If you are living there, of course you should be paying the rent.
   What the landlord does with the money is not your concern.

   same concept
   References :

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