My rented home is being repossed off the landlord by the bank how does this effect me?

i rent a house and the bank is now reposing it off the land lord. i have had no electric in the upstairs for 10 weeks and now i know why he has yet to do the repairs as he is losing the house. But he still expects me to pay the rent!! But what am I to do now? do i have any rights to be rehoused?

In the US the only rights you have in regard to renting a home that is being reposes is the New Federal Law that gives you certain rights to occupy the rental for another 90 days or a full year depending on the facts

Any other legal issues like the remedy for the landlord breaching the lease agreement is a civil suit against the old owner and not the lender or the new owner taking possession after the official judicial foreclosure

Also getting back your security deposit is an issue you must bring up with the old owner the SD does not transfer in a foreclosure proceeding

You have a few options depending on what you want to do. If you want to stay there, file a complaint with the proper housing authority or small claims court over the electricity which may get you out of paying all the rent until he provides what you originally rented. You can check with the city attorney or a free legal clinic. You can also approach the bank that's repossessing or foreclosing on the property with a deal: you stay and put your rent toward getting the house fixed up. You have to work out the details then, and that includes whether you would hire someone or do it yourself. You probably won't be evicted by the bank because it needs the income as much as your landlord does. You might get better terms working with the bank though. As for rehousing, you're only renting, not leasing, so you're likely to be on your own.

If the house is being repossessed, the bank will probably be evicting you anyway. It is probably time for you to find a new place and move. When the eviction notice comes, it may require you to leave very quickly (in some jurisdictions, in as little as 1 week). If you don't have a new place already, you will be very hard-pressed to find a place and make the move in such short time. Certainly, don't pay more rent to the landlord if he is not paying the mortgage. Tell him that you can only pay him if he proves that THE BANK isn't going to kick you out in the next month.

But, this may also be an opportunity for you. I don't know what your finances are like, but if you like the house, you may want to talk to the bank about buying it. The bank doesn't want a house. They just want their money. Depending on the outstanding balance on the mortgage, you may be able to get a really good deal. If so, either hire a licensed realtor or a real estate attorney to help with the purchase. They will work for you, so you don't find out too late about liens, unpaid taxes, etc... that could cost you a fortune later.

Good luck!