Rights of Renters in Foreclosure
When the bank forecloses on the landlord, most tenants can stay in their rental.
Protections for Tenants After a Landlord’s Foreclosure
The federal Protecting Tenants at Foreclosure Act of 2009 (PTFA) ensures that renters have adequate time to find alternative housing after the home they’re living in gets foreclosed.
Tenant Evictions After Foreclosure in California
In California, the new owner of a foreclosed property must perfect title before serving tenants with a three-day notice to quit.
What's "Cash for Keys" in a Foreclosure?
If you lose your home to a foreclosure sale, the new owner might offer you a lump sum to voluntarily move out. This kind of transaction is called “cash for keys.”
Credit Bidding in a Foreclosure
At a foreclosure sale, the foreclosing lender usually makes a bid on the property using what’s called a “credit bid.”
What Is an Acceleration Clause?
In a mortgage contract, an "acceleration clause" is a provision that permits the lender to demand that the borrower repay the entire loan after a default.