Your Rights if the Bank Tries to Kick you out of a Foreclosed Home that you are Currently Leasing
Prior to the passage of the Protecting Tenants at Foreclosure Act in 2009, tenants’ rights were superseded by the “successor in interest,” that is, the new owner of the property. The act was passed to prevent tenants from being blindsided with removal notices that left them little to no time to secu ...
Will you be Held Responsible for a Debt from the Foreclosure of Your Previous Home if You didn't Sign the Promissory Note?
Foreclosures can be poorly executed and are often convoluted as mortgage companies aim to rid themselves of bad investments as quickly as possible. As a result, there is much room for error throughout the entirety of the process. If your previous home was foreclosed but you did not execute a promi ...
When a Property Owner of a Foreclosed House has Roommates, are Their Rights the Same as the Owners?
It is an unfortunate reality that many individuals have had to go into foreclosure as a result of the economic downturn. Some people have been successful at paying down their mortgage by renting out extra rooms to increase cashflow. However, sometimes it is not enough and the property still goes int ...
Can You Lose Your Deposit on a Residential Lease on a Foreclosed Property?
The current real estate climate, with owners becoming tenants and banks becoming landlords, can be rife with complicated situations and shifting loyalties. It can be extremely difficult to find out what your rights are. If you were leasing a property that was subsequently foreclosed, your obligation ...
