Pocono Jack

What happens when a landlord facing foreclosure still collects rent from the tenant?

Jack Gomez 10 years ago

A friend of my recently asked me this question.

Can a landlord facing foreclosure still collect rent from the tenant?

Yes, a landlord who has not paid the mortgage may continue to collect rent from the tenant. Many mortgage lenders have an Assignment of Rents clause in the note, whereby the mortgage company has the right to receive the rent when the loan is in default. In actual practice, we have not seen the Assignment of Rents clause exercised on residential properties. The lease will lay ou...

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Jack Gomez

REALTOR®

Phone: (570) 878-9646

Hamlin/Lake Ariel Office

606 Hamlin Highway, Suite A

Lake Ariel, PA 18436

Phone: (570) 689-2111
Fax: (570) 689-2311

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