General Content > Home Owners > Investor Owned Investor Owned
What to do if your property is an investment and tenant occupied:
If the property is currently rented, you need to understand the owner/tenant laws within the state your rental property is located. The last thing you need is a law suit brought against you by your tenant. Please open a case here to talk to one of our local Loss Mitigation Consultants about you and your tenant’s rights.
If you currently have a lease extending beyond the foreclosure date, make sure you do not cash the rental check if the rent is paid in advance. For example if the foreclosure date is scheduled for the 5th of the month and the rents are due on the 1st of the month only the prorated first five days belongs to you. If the tenant has put up any security deposit, those dollars belong to the tenant.
If the tenant is currently on a month to month lease, you should notify the tenant they will need to move.
If the property is vacant, you should open a case here and let one of our Loss Mitigation Consultants negotiate with the bank for a satisfactory resolution to avoid the foreclosure on your credit.
|
