Tenant in property about to be repossessed

greenspun.com : LUSENET : Repossession : One Thread

I am a tenant in a property about to be repossessed, since my landlord obviously has not kept up with mortgage payments. I have sought legal advice regarding the process and besides the fear of being evicted, I wonder if there is any possibility that the bank would consider me taking over the mortgage after repossession before the property is sold/auctioned out. Many thanks.

-- Simon (simon74@londoners.net), August 18, 2003


Unless you can come up with some arrangement with the landlord's mortgagees to the effect that you can stay on at the property, you will have to give up possession when the court makes a possession order unless that order is suspended upon the landlord making continuing payments.

You will by now have had some notice that the mortgagee is starting possession proceedings, so you will know who they are - contact them now and engage in tenative talks as to whether or not you could apply for a mortgage with them and buy the property or whether you could stay on as "guardian of the property" paying them rent until the property is sold.

I think it is unlikely they will agree any of these as mortgagees usually like a clean possession and eventual sale without any complications - but if you don't ask, you don't get.

I am not sure if the tenant is served with possession proceeding papers, if you are, you have the right to appear before the court and make your own representations - if you are not service with ppp then you could find out when the hearing is and go to the court as an affected person and seek to enter the hearing?

-- David J. Button (davidjohnbutton@supanet.com), August 19, 2003.

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