Foreclosure in 20001>Question Details

Ron Freeman, Home Buyer in 20002

I live at 615c Florida ave in NW DC the gouse has been sold (forclosed)

Asked by Ron Freeman, 20002 Tue Apr 8, 2008

The onwner just told me today he just got the papers and when I did research it was sold on Feb 7th, does the bank own it and do I still have to pay him or the bank?

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Answers

3
Mark Meyerdirk’s answer
Ron,
The new owner will likely have a representative approach you in the near future to negotiate a Cash for Keys Agreement. You have many rights as a tenant in DC. The bank knows this and will likely make you an offer to vacate the property within a certain time period. The amount and time period are negotiable and you don't have to agree to it at all. That said, sometimes the offers can be pretty attractive and make it worthwhile to move.

Let me know if you have any other questions or need any advice on the Cash for Keys process.

Regards,
Mark Meyerdirk
0 votes Thank Flag Link Sat Sep 26, 2009
to be in the safe side, I will contact the bank. Which bank holding the note?
Web Reference: http://DCRealtyOnline.com
0 votes Thank Flag Link Sat Jul 4, 2009
He is no longer the owner. You do not have to pay him again.
0 votes Thank Flag Link Wed Mar 4, 2009
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