Legal Question in Real Estate Law in Georgia

Mortgage
We rent a house. It seems the owner is about to be foreclosed on. We rented on a years lease which is almost up. The home owner has our $1100 'security' but no last month rent. What should we do in regard to paying rent which comes due March 1st? Should we pay it and if so to the 'owner' or try and find someone at the mortgage owner, probably Bank of America. It seems clear that we will never get our security back. Will we get tossed out by the mortgage holder? We would rather stay at the current location than move but it may not be our option. Any advice?

Asked on 2/16/09, 3:27 pm

Charles W. Field Charles W. Field, Attorney at Law

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Re: Mortgage

Foreclosure of the mortgage wipes out your lease. However, the bank may be willing to work with you. Consult with a local attorney.

Answered on 2/16/09, 8:41 pm

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