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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I am in foreclosure with Citimortgage. I just started working after eight months. I have kept in touch with them, and they will do a hardship application when I can provide two paystubs. This I can do as of two weeks from today, when I get my second pay stub. Unfortunately, they are proceeding with foreclosure. I cannot afford an attorney. I just need someone to make them wait the extra two weeks, plus however long they take to process my application. Without my house I am literally homeless, and I am so close to giving them what they need. Can you provide me with pro bono assistance?
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Can a second (junior) mortgage Deed of trust lienholder obtain a deficiency judgment against me. The Arizona single family home foreclosed Trustee sale on September 2nd, 2014. They are just now trying to get a hold of me. There is no way I can even afford to pay. Thank you
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We had an 80/20 mortgage on our home. In Feb it was foreclosed on. The first lender shows as a foreclosure but the 2nd lender(chase) shows as a charge off. I was told that there is something in the state of AZ that requires both lenders to report it as a foreclosure. Is there a provision code that I can contact Chase with to have the reporting changed to Foreclosure? Thank you..
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How can I legally kick out family members? I own home they have been staying with more for over a year. Some occasionally contribute to rent but mostly don't. I have asked severe times in past 6 months to love out now I have given a 2 month telling them by September 1st but doesn't look like ahyones making plans and just freeloading and being lazy and I can't take it anymore Mom brother, sister . How do I legally get them to leave ?
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My house foreclosed and was sold at auction on 4/4. On 4/5 I spoke with the new owner and he said he would give me until 4/12 to vacate. Today 4/9 I recieved a Forcible Detainer request form in the mail. DO I need to be out by today?
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The bank is foreclosing on a home that I am on the loan, however in our divorce decree there is a deed stating that I am not to get any profits and or be held responsible for the debts of the home, if he files bankruptcy will I have to do the same to keep the bank from coming after me?
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the house i live in is being forclosed on, i am the rentee. can i stay in the house for the term of the lease
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My family and I had moved into our new home after paying six months in advance and signing our lease . One and half months into being our home , the sheriffs arrived at our door saying that they had put warning's on our house, though we never saw any . Conveniently, our landlord was nowhere to be found . What agency will help us get into A home and help with a couple month's rent?
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My house is in foreclosure, what financial damage will happen to me during and after the foreclosure of my home? Will I be responsible for the difference if the foreclosure is less than the mortgage on the home? Can this foreclosure effect my license as a LCDC counselor granted through the State of Texas?
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What happens if you rent a house until foreclosure?
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