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Guest | 18 Şubat 2014 saat 06:07

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Guest | 17 Şubat 2014 saat 22:30

The bank forecloses the motgagre it holds and sells the house at a public auction. The highest bidder at the auction usually has 30 days to complete the purchase, and then they recieve good title to the house.It sounds like the bank anticipates that it will be the high bidder at the public auction, or else your landlord has has discussions with the bank about them giving the bank a Deed In Lieu of Foreclosure. In any event, the bank would prefer to re-sell the house free of any tenants. That means that they will offer you a certain amount of money to leave voluntarily, and if you don't accept their offer then they will begin legal proceedings to evict you.You might want to consult an attorney who has some knowledge about how much you can demand from this particular bank. A protracted legal proceeding will cost the bank time and money and delay the repair or improvement and re-sale of the house. But it may also cost you a substatial amount of attorney's fees to defend those eviction proceedings. So you should seek a reasonable sum of money (in addition to negotiating the return of your security deposit and/or last month's rent) that will allow you to rent a comparable apartment in the area. You should also ask for the bank to reimburse your moving expenses or pay you a fixed sum of money that you can apply against your moving expenses.Good luck. If you feel confused or intimidated by the bank, then consult an attorney.References : Was this answer helpful?

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