Foreclosure Article
Renting a Foreclosure
1. Can I rent a property that is in foreclosure?
Yes, but the landlord must provide a written notice of the foreclosure with the rental agreement.
2. What happens if while I am renting a house the property goes into foreclosure?
If you are renting house and the property goes into foreclosure the landlord must notify you. In fact they must provide you with written notice within 5 business days of the first notice of trustee sale.
3. Is there a specific form that I need to use to notify a tenant?
Arizona Revised Statute 33-1331 provides a format for how a landlord should set up this information but it is not necessary to use this exact format. The format is as follows:
This property is undergoing foreclosure. For more information on this action, you should contact ________________ (name, address and phone number of the court where the action is filed or trustee, attorney or other responsible party).
A sale at auction may or may not occur as a result of this foreclosure. Currently, the sale of this property has been set for _________ (time, date and place) or no date for sale of this property has been established.
4. What happens if the owner fails to provide notice?
If a landlord fails to notify their tenant in writing within 5 business days the tenant may terminate the lease and recover their security deposit. It is also possible to obtain injunctive relief and money for any damages the tenant may have.
5. As a tenant can I just leave the property if I am not notified properly?
No, a tenant must deliver written notice stating how the landlord breached the agreement and that the rental agreement will end on a specific date. The end date must be at least 10 days after the letter is delivered.
6. Does this apply to apartment complexes?
No, these laws do not apply to apartment complexes or other multifamily residential complexes that have more than four units.
Updated: February 24, 2017
Comments:
QUESTIONS
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what assistance is available to me I was 12 months behind caught up on six in September and they started foreclosure this month sell date is Feb of 2015 I thought they were working with me and no notice foreclosure.? my husband was on unemployment for over 4 years and recently is now working and we are able to catch up and stay on track.
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My home has recently been foreclosed on. I have a HELOC attached to the dwelling. Am I responsible for repaying this debt?
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My father passed away 1/16/2015. His is the only name on his home's deed. There is a reverse mortgage on the house and what is currently owed on the mortgage is more than the house is worth. My name is not on the deed and I don't plan on going to probate to get control of the house. The mortgage company is starting foreclosure. My question: is the estate, and me personally as the executor of the will, legally obligated maintain the homeowners insurance policy until the house is sold at the foreclosure auction which could take 1 to 2 years?
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IF MY HOME WAS FORCLOSED ON. WITG LENDER STATING I WAS DEFAULTED ON PAYMNTS MY OAYMNTS WERE CURRENT. AND SITTING IN THE SUSPENSE ACCOUNT MONTHS OF BATH N FORTH CONTACTED BBB. CONTACTED3 ON UR SIDE ..HAVE EVRY PROOF OF DOCUMENT...THEERE WAS A MINOR INCOME REDUCTION. FOR FEW WEEKS BUT NOT ONCE MISSED OUR MORGAGE PAYMNTS.THEY KEPT SEMDING US THESE DEFAULT LETTER S 100'S OF DOLLAR SPENDINH FAXING PROOF MAILIG EXPRESS MAIL. ...SPEAKING WITH EVERY GAVECONFLICTED INFO. SO I SEND AMT THY TOLLD ME TO SND BY WU.NEVR DID I GET PAPAERS MY HOME WAS IN FORCLOSURE PROCESS OR SRVD ANTHNG & KEPT AL OUR STUF
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I have lived here for 12 years. My name on warranty deed and signed into a trust. New company is servicing my account and will not recognize me as the owner. Foreclosure sale is Jan 14th. Have tried for several months to communicate but they will not. My name is not on the loan. Can you help me. I have a buyer for the property. They will not talk to me about it.
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My home foreclosed last April, i was unable to pay the mortgage and the hoa, i tried making arrangements with both parties but was unsuccessful, now over a year later i am getting a letter from a law office saying i need to pay the hoa. Can they take legal action against me?
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A sibling had a piece of land that was sold in a trustee's sale in June 2016 . It was 2.55 acres and had no single family residence. I am clear that it doesn't fall under the deficiency exemption because of the size of the lot and no home. Since it's been over 90 days, is it safe to say there will be no legal recourse? Can they still send the debt to ordinary collections agent? Thank you
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I ended up in a rescue scam for foreclosure. I paid money to a mortgage company to help me and they did nothing. I have now lost my home and want to know what I can do to get my money back frome the rescue scam.
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Currently my home is not in foreclosure. I am behind in payments and the bank will not allow me to make partials. They are willing to reinstate the loan but I am unable to raise the 6 payments required. I have received default and letters of intent to accelerate. The bank is recommending a short sale. I want to work this out and I have saved 3 payments and I wish to stay in the home. We received a modification in 2012 and a special forbearance in 2013 I am back to work after being laid off in September and emergency surgery in December. Do I claim bankruptcy in order to save my home?
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