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Tenant/Foreclosure

Help!! I am trying to fix a foreclosure issue that I'm going through however the home has a tenant in there. I haven't told him because we were almost getting ready to finalize the paperwork to save the house. I feel so bad he has found out and wants to know if its needed he can move. Very nice person! OMG I feel so bad. What do I tell him???

Answer Question
 
Anonymous

Asked by Anonymous at 6:47 PM on Mar. 29, 2010 in Money & Work

Answers (3)
  • If you are saving the house then tell him you are saving the house.
    Anonymous

    Answer by Anonymous at 6:49 PM on Mar. 29, 2010

  • I'd tell him the truth. Let him know that at this moment in time it's not necessary that he moves (unless it is) but that he should keep the funds available in case things fall threw. And once everything is taken care of thank him for his patients and understanding.
    2murphyboys

    Answer by 2murphyboys at 6:53 PM on Mar. 29, 2010

  • Tell him you are trying to save the house. Do you have a legal lease with the guy? If you do then even if the foreclosure happens the bank has to honor that lease until the end of the term. If you don't then they have to give him 30 days to move.

    JAIRATRACI

    Answer by JAIRATRACI at 8:51 PM on Mar. 29, 2010

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