Tenants, foreclosure, and eviction
Also in
Show Endnotes
Reviewed
Reviewed
Text
Foreclosure is when a bank or other lender (“foreclosing entity”) takes back a property from the owner. Foreclosures usually happen because the owner did not make the required mortgage payments. The foreclosing entity often buys the property at the foreclosure and then sells the property to a new owner.
If you are a tenant and you think that your apartment may be at risk of foreclosure, there are steps you can take to protect yourself.
If you are a former owner of a foreclosed property, your legal rights are not the same as tenants. To learn more, see Homeowners facing foreclosure.
Widgets