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I am renting a house that I discovered was in foreclosure. What should I do? Rights in Las Vegas?

I have contacted the realty management company several times since receiving several telltale notices on my door. First they denied anything was up then they said it was in loan modification now they say it's in short sale. In the meantime someone is pocketing $1150/mo and sitting on $1800 in deposits. It cost me thousands to make this move 8 months ago. How can I re coop that? Also my lease is for 2 years.

Public Comments

1. You will just have to wait until the mortgage lender takes over accepting your rent. Your lease is still in effect.
2. If your lease was signed before the owner was notified of foreclosure proceedings, then your lease will transfer to the new owner. If not, the new owner post foreclosure will have to give you a minimum of 90 days. http://www.hacla.org/attachments/wysiwyg/10/PL111.22TitleVII.pdf Title VII.
3. You cannot recoup that. Did you think you could live somewhere rent free? Perhaps when you first rented it, the owner was trying to save his house. Trying loan modifications, and failed at getting them. Now, he is at the end of his rope and has to try to do a short sale. This is what happens. You don't get to live rent free. So, get it out of your mind that you will get 8 mos of rent back. There is a new law that gives you 90 days from the sale of the house (usually foreclosure) to move. If whomever buys it wants you out faster, sometimes they will offer *cash for keys* as an incentive to get you out. It is not the landlords fault you paid thousands to move 8 mos ago. How is it his fault? You were going to move anyways, right? You were going to rent a place anyways, right? So, this $1150 would have been going to some other landlord. What the landlord does with the rent money is really, none of your business. It is his to do with as he pleases. Short sales take a long time to complete IF they ever even get to the finish line, so my guess is, you will be in that place for a few more months. The chances of it going to foreclosure and back to the bank are higher than it short selling.
4. Some one is pocketing the rent due them because they own the property. It matters not the financial condition of the owner. You are Still obligated to pay rent each month or possible eviction through a court that will be on your credit report. Your chance of getting your deposit back without going to small claims court is slim, so make sure you have the address of the current owner and management company so you will be able to sue for your deposit. There are a few new laws that have been enacted that would allow you to remain in your rental as long as you have a lease. You might want to google foreclosure eviction and the state in which you reside. This should produce a few a sites that might be able to assist you. Then you might want to check your local telephone book for tenant advocates in your neighborhood. These organizations have many free resources for you to utilize, it is normally at no cost to you. the would be able to assist you in the recent law about foreclosures that are rented and your rights and the ability to stay there as well as how long you are able to do so. I hope this has been of some benefit to you, good luck. "FIGHT ON"
5. Stop making your payments. And contact a tenant/landlord attorney He will protect your rights.
6. YOu have nothing ro recoup, you have not suffered any loss. Just keep going with the lease, even if the place is foreclosed the process could easily take a year.