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Re: Foreclosure

Posted by Jim V on February 17, 2007 at 20:09:49:

In Reply to: Foreclosure posted by Kathy Lewinski on February 17, 2007 at 17:28:34:

Kathy,

If the lease does not predate the foreclosing loan then the lease will be extinguished by the foreclosure. The tenant will receive either a 30 day or 60 day notice sometime after the foreclosure is completed. The lender, or third party purchaser probably won't allow the tenant to stay beyond the time they are legally alloted. Leases do not change the foreclosure process in California unless they were written before the foreclosing loan.

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