Warning Beacon

Times have changed. Many tenants asks me if the owner is in foreclosure.   I always ask the owner if they are in foreclosure or if they are up to date with their condo payments. Also the tenant can go online at Miami-dade.gov check and see if the property is in foreclosure.

In the case you are are already renting a property and the notice of forclosure is given , the tenant does have some protections in place, these protections are a bona fida lease already  in place. This lease must be entered in to before the notice to foreclosure is given , according to  PTFA or Protecting Tenants at Foreclosure   or you can call the HUD office and speak with a counselor that will be able to give you some answers to your questions 

Also tenants righs in foreclosure at Miami-Dade.gov

There has been  some confusion at the notice of foreclosure, according the Dodd -Frank Act     The Frank Dodd Act   defines the date of notice of forclosure as ” the date of which complete title to a property is transferred to a successor or entity or person as of a result of an order of a court or pursuant to a provision in a mortgage , deed or trust or security deed”

If there is no lease in place and there is a month to month arrangement between you and the landlord, you have 90 days to vacate.  You might ask the lawyer reprenting the lender if they would like you to continue as a tenant.

   If this blog post does not help you and you find yourself in this situation  please do contact me and I will point you in the  right direction