Foreclosure in 33411>Question Details

S.hime, Renter in Palm Beach Gardens, FL

Unknowingly renting a foreclosure WPB Florida...options??

Asked by S.hime, Palm Beach Gardens, FL Sun Sep 1, 2013

We rented a 3 bedroom home in WPB small develop. No where on the lease mention it was a foreclosure . April we got notifications from Citibank upcoming foreclosure to both parties of the original note and then unknown tenant. Turned over to realtor and told were fine and he thought that he told us. August house auction ed & bank kept since other party way too low (house worth 200,00 owed 575,00 )the bank outbid to keep. Since this we have been notified bank bought but not that we had to move. Now that the bank has ownership and not HOA (who we rented from-the realtor co that represents HOA) sent hand written notes to all people in our place with the same prob.(over 7 ) making clear that they signed a lease even if the house has foreclosed they responsible to pay otherwise it would make re renting hard. Should I contact the bank to see about renting. The did this to many & none knew & spent money to move We have to pay rent live up to our lease but they cant if the bank wants us out

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Your rights all depend on when you leased the property and at what stage of foreclosure the property was in if it was even in foreclosure at the time. if you leased a property from the HOA that purchased their lien at sale, you probably have about 30 days to relocate. Chances are the lender that foreclosed, does not want anyone in the property when they are trying to sell it, although you may be able to get the lender to play ball by asking the banks listing agent for some help.
0 votes Thank Flag Link Mon Sep 2, 2013
S,H, There are definate protections in the Law
for "tenants in forclosure". You need to first talk
to a Real Estate Lawyer to see if you qualify! That
the Bank wants you out is their problem-
you need to look out for you!

County Bar Association for a referral or Legal Aid
are sources for an attorney! Get help -you do have
options! There are a number of issues here!

Bob Brubaker Highlight Realty Palm Beach County Fl 561-876-6649
Web Reference:
0 votes Thank Flag Link Mon Sep 2, 2013
I am pretty sure if the lease says its rented by the HOA as the landlord, the realtor should have explained this. Usually they are rented for below normal rents because they can be foreclosed at any time by the lender when title is currently owned by HOA> Was this the case. Realtors can not answer LEGAL questions after the fact and therefore should be answered by an attorney.
0 votes Thank Flag Link Sun Sep 1, 2013

You are right, unfortunately your situation has been experienced by many due to the waves of foreclosures and short sales in the last 5 years.

I recommend you could hire an attorney experienced in Palm Beach County real estate .

Your attorney can let the Landlord, HOA and bank know you hired the attorney to represent you.

Julie Rosenthal, Broker, ABR, GRI, TRC, CAM, EcoBroker
Property Brokers International
Mobile (561)827-6789
0 votes Thank Flag Link Sun Sep 1, 2013
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