Legal Question in Real Estate Law in California
House I'm renting in pre-forclosure
I have discovered that the house I rent is in pre-forclosure and the owner (landlord) has been served a notice of default.
How will this affect me? I still have 4 months on my lease. I also paid a significant security deposit ($3,500) ,how likely is it that I will get that back?
1 Answer from Attorneys
Re: House I'm renting in pre-forclosure
The landlord would still be responsible for reimbursing the security deposit. It's possible that after the foreclosure, the new owner would want a tenant in place so that the place won't be vacant and subject to vandalism. If foreclosed, you might contact the new owner and see if you can work something out.
By the way, with interest rates falling again, it's possible that your landlord might be able to refinance and avoid foreclosure.
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