Foreclosing With Renters

[mandiees]

My friends have gotten into a situation where their landlord stopped paying the mortgage and the property they have been renting has gone into foreclosure. How long do they have to vacate the premises? Is there any action they can take against the property owner for putting them through this mess?

[anthonyrodrigues]

Hi
I don’t have so much idea regarding this subject. Just I suggest you to take steps accordingly.

[Simplyme]

Honestly, I do not believe that there is much you could do short of taking the landlord to court which honestly seems pointless if they are facing foreclosure already you will most likely not see much.

[mandiees]

Yeah, I just spoke to them yesterday and they do not have much recourse other than suing, which is pretty pointless considering I am sure he will be filing for bankruptcy as a result of this foreclosure. They have been told they have 30 days to leave the premises, and the landlord has been MIA since the notice was served so its going to be next to impossible for them to get their security deposits back!