foreclosure of rental apt
what happens if the house you are renting an apt in is foreclosed on
Asked on 4/27/09, 12:23 am
1 Answer from Attorneys
Re: foreclosure of rental apt
If the property is foreclosed, you may be evicted from the property by the bank or mortgage lender. In New York, there is no notice requirement once a building is foreclosed and the eviction could appear on your credit report even though you had nothing to do with it.
If you are living in a rent regulated/stabilized apartment, you may have some protection to remain. Otherwise, it may be a wise idea to search for a new apartment and have your landlord keep you posted on the foreclosure process.
Answered on 4/27/09, 3:24 pm
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