Re: tenat renting property that's in foreclosure
Posted by ForeclosureFish on October 19, 2006 at 14:29:55:
In Reply to: tenat renting property that's in foreclosure posted by Shawana Hartman on October 19, 2006 at 13:26:04:
Shawana,
If the current owner does not pay the amount in default, then the eviction process in Illinois will be completed in approximately 7-8 months after the foreclosure is filed.
The bank will not have the sheriff remove you from the property before that time unless they delcare the property abandoned by the current owner. In that case, and if you do not have a lease/rent agreement with the landlord, the bank can take the property back much quicker and evict you.
Hopefully you can contact the current owner of the property and make sure you are not in any immediate danger of losing your apartment.
ForeclosureFish