Property Q&A in New York>Question Details

herwig.pirke…, Home Owner in New York, NY

What happens to HDFC building after foreclosure?

Asked by herwig.pirker1, New York, NY Sun Jan 20, 2013

I am a shareholder of a HDFC building in the Bronx. Because of mismanagement and fraud our building will go into Tax lien sale-foreclosure.
All i can find out is that after the foreclosure we can stay there as rent stabilized tendant . But i could not find out what the guidelines are for the new rent or where to find it out how much exactly it will be- not even examples from other situations like that.
I have heard that it could be the same as now(440.-) others tell me it will be trippled others also tell me its 30% of my income.
Does anybody know where i can find it out or anybody knows of similar situations. Thank you very much!

Help the community by answering this question:



You need to contact an attorney to find out what your rights and options are. I would be glad to also provide some attorneys in the area that specialize in real estate.

Here is a link to the to the NYCBAR.

Good luck
0 votes Thank Flag Link Mon Jan 21, 2013
Contact The City of New York, Department of Housing Preservation and Development
0 votes Thank Flag Link Sun Jan 20, 2013
Mitchell Hall, Real Estate Pro in New York, NY
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