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Old 09-29-2007, 04:18 PM
superadvisor superadvisor is offline
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Join Date: Dec 2006
Posts: 516
Default Do I owe rent to my landlord?

I generally get along with the guy really well, I've lived with him in his house for the last 4 months paying $400 a month to rent out a room.

He's always had problems paying his mortgage, he got in way over his head with the loan. The other day he tells me he is quitting his 2nd job.

Using my logical skills I deduce that it would be impossible for him to make his mortgage payment if he quits his 2nd job therefore he is going to stop making the payment and let the house foreclose. I asked him about this and he hinted that that's what's going to happen. He's already lost 2 of his other investment properties to foreclosure.

It generally takes no less than 6 months for the banks to seize the house, 3 months for the foreclosure and 3 months to evict. So obv he plans on just living here rent free until he gets booted out and I plan on taking the free ride along with him.

So my question is, if he isn't making the mortgage payment, do I still have to pay him monthly rent? Doesn't seem fair.
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