It’s a given that ...

... landlords do not fully disclose their troubled circumstances to tenants or prospective tenants when in foreclosure. “Taken off the calendar” is a colloquial not a legal term. Consider it a postponement that can be picked up at any point within a reasonable time period. I suspect most attorneys out of an abundance of caution would suggest another NOD if more than say a year or so lapses or if the loan has been sold in the interim, but a NOD only takes a few weeks. No big deal. Tenant would be well advised to seek new accommodations once any lease has expired or if they’re month-to-month. Regardless getting the return of any deposit may prove to be a challenge. Tenant should cut bait ASAP with owner assuming tenant themselves can pass a rental check. I found most tenants in similar situations are as credit challenged as their landlords.



Edited 1 time(s). Last edit at 08/08/2013 05:22AM by Scott.