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My Rights during a Foreclosure

By UKHoov

I have been renting a condo from my landlord for over 9 years. We dont have a written lease but a verbal acknowledgement of the rent and any repairs, to which we have been both in good standing thus far.

However I just found out the the property is now going into foreclosure. I was told it was in foreclosure starting Dec 5th 2012, and now will go to sheriffs sale on March 21st, 2013. I just need to know what my rights are in this case. I dont want to be evicted on the 21st of March and left with no where to go.

My uderstanding is that I will have 90 days to vacate the property afetr the final sheriffs sale. Does anyone know if that is the case, or have any additional advice?

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Edited on: Tuesday, January 15th, 2013 4:26 pm
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One Response to “My Rights during a Foreclosure”

My response: (We welcome stories, examples, explanations, answers and a touch of your personality)
 

Maria

January 30th, 2013 8:45 pm

If the new owners want the property as an investment, they might be more than happy to let you stay. Your rent is additional income for them. But if the new owner wants to live in the property then you would have no choice but to vacate it. Or, this is just a wild thought: if you really love the place, maybe you can buy it? :)

In any case, there could be better condos for you. Start looking around. You can use RPA’s services to screen your next landlord. Good luck!

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