Legal Question in Landlord & Tenant Law in Illinois

Until the ownership has been transferred, your lease expires, or you no longer live there you must continue to pay rent. If you want to keep living in the house after it has been foreclosed on, at least until you find a new place, you can contact the mortgage company and see if they'll work out a rental agreement. Because of the number of empty homes they have to maintain they have an incentive to keep someone living and maintaining the property so you might get a good deal.

Yes you do.

In addition, if you do NOT, you are not protected by recent federal law that will allow you to stay in place through the end of your lease (or minimally 90 days after foreclosure if the buyer wants to move in) and you can be evicted by the current owner, the lender, or the buyer in foreclosure!

The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is currently licensed to practice law actively only in the State of Illinois, inactively in Florida. Responses are based solely on Illinois law unless stated otherwise.