Q: my tenants have 7 more months on their lease. Do I have to inform them of an impending foreclosure?
The bank says I can list property for 120 days then a deed in lieu, how long does it take to process deed in lieu?
A: In general, the foreclosure will be subject to your tenants' lease; so the foreclosure should not affect them. They will be given notice of the foreclosure lawsuit. the buyer will notify them where to make the lease payments.
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