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

  • What happens if you rent a house until foreclosure?
  • We're renting a home and have 9 months left in our 12 month lease. We just found out the property foreclosed and the home sold. We've been offered money to leave in 30 days. We are protected under the Protecting Tenants in Foreclosure Act, and can stay for the duration of our lease. We are willing to leave in 60-90 days, to give us time to find another rental. If the PTFA expires on 12/31/14 are we still protected on 1/1/15? Can they give us more time but then come back on Jan. 1st and evict us? Are we protected past the expiration of the act because we signed our lease before the foreclosure?
  • i have purchased a home about to be auctioned off I paid off mortgage and the owner signed over the house on a quit claim I am having trouble getting her to remove her stuff from property how long do I need to give her and what is the process I need to follow
  • We just got married 6 mo ago& are ready to split, due to having two homes both upsidedown. We can not afford the home that is in his name only. We live in the the one that is in my name only. Will foreclosure on his home hurt me since we are now married? Would a legal seperation help the situation for him/us? His home is an 80/20 ARM loan.
  • House is being foreclosed on. There is a second mortgage involved. What is the statue of limitations for the second mortgage to file a deficiency law suit? Is it 90 days after the sale of trust of the 1st mortgage foreclosure? Or does it fall under the 6 year rule?
  • Would I be able to get visitation of my two children if they live in a diffrent city? They live with there grandparents and there mother live in the same city I live in.

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  • I asked CitiMortgage Inc . for a loan modification at the end of 2012 because my ci-borrower was gone and I was going to get a 20% paycut two months from when I made my request. I was definitely in imminent danger of default. They said call back after I miss 3 payments and then they would help.Endless paperwork, 10 payments behind-I reinstated in full and am now current. They transferred deed to trustee and still foreclosure activity. Help
  • Is a condo covered in the anti-deficiency statue of Arizona? My condo is one of a 4 unit building. Is that a single family dwelling? I am the only person who lives in it. Can someone please help?
  • I rented a property and signed the lease april 2012. I moved in june 2012, I recieved notice the property was going to be sold in auction in october, 2012. can i recover my deposit
  • How do I find out if there is a sale date for my home that is in foreclosure?

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OTHER LEGAL RESOURCES

  • State Bar of Arizona
    www.azbar.org
  • Maricopa County Bar
    www.maricopabar.org
    Referral number 602-257-4434
  • Pima County Bar
    www.pimacountybar.org
    Referral number 520-623-4625
  • National Domestic Violence Hotline
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ORGANIZATIONS

Documents

Horne Issues National Mortgage Settlement Consumer Alert to Arizonans ReadSpeaker

.pdf  AzMortgageResource.gov ReadSpeaker

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The Mortgage Forgiveness Debt Relief Act and Debt Cancellation

Horne Issues National Mortgage Settlement Consumer Alert to Arizonans

WHAT IF I RENT A HOUSE THAT'S IN FORECLOSURE - The Protecting Tenants at Foreclosure Act

FORECLOSURE DEFICIENCIES IN ARIZONA: Will I still owe money after a foreclosure?

Where can I find legal help with a foreclosure?

Will bankruptcy save my home from foreclosure?

Did you know the Arizona Attorney General’s Office has a wide range of statewide assistance programs funded through the national mortgage settlement that could benefit you or people you know?

Mortgage Reaffirmation Requirements Bogus

Recovering Excess Proceeds After Foreclosure of Your Home

The Mortgage Forgiveness Debt Relief Act

Veterans Facing Foreclosure

LINKS

Arizona Housing Information

HUD in Arizona

Federal Consumer Action Handbook Online

Pima County Courts Self Service Center

Arizona 2-1-1

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