Stacey, Other/Just Looking in Springfield Gardens,...

My family lives in a house that is currently foreclosed and facing auction. We are not on lease and don't

Asked by Stacey, Springfield Gardens, Queens, NY Sat Mar 7, 2009

pay rent but we carry the utilities. We've been here for over two years now. How long will we have after auction sale to vacate? Do we have any legal recourse to remain in the house if we need more time to find other housing?

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If an investor purchases the property and wants you out the will most likely initially try to strong arm you. If you dont move out, the will have to go through the courts and evict you.

In all likelyhood the lending institution will take back the property. You should have contact information on the papers you were served with as a tenent in the house. Contact thier attorneys and ask...... Fannie and Freddie loans have provisions for owners and tenants to stay in the properties, but the guidelines are changing all the time. You can also attend the auction to see who purchases the property.

Best of luck

Douglas Montgomery, Broker
Home NY Corp.
0 votes Thank Flag Link Sat Mar 7, 2009
Not knowing specifics tough to answer. Your first step is to speak to an attorney about your situation right away; once the property is sold it's up to the new owner to decide what to do next. You may want to start looking for a new home for yourself soon.

0 votes Thank Flag Link Sat Mar 7, 2009
This is state specific. Some states after confirmation the tenants are served to get out within 2 weeks. Other states the tenants are allowed to stay in as long as they are paying their rent. I think in New York there is an allowance for tenants to stay in their homes, but I would contact an attorney or someone else in the new york area to confirm or deny that requirement.
0 votes Thank Flag Link Sat Mar 7, 2009
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