The Bank recognizes that many Americans face difficult questions in these tough economic times. Because of this uncertainty, we want to make sure every tenant knows what to expect in case the home you are living in becomes subject to foreclosure.
You may have been paying your rent on time every month, but your landlord may have fallen behind in their payments and the property you are living in has been foreclosed and you face eviction from your home.
How Will Most Banks Assist Me?
The bank intends to market and sell the property.
If you have a written lease, the bank will honor the terms of your lease. Please provide the agent with a copy of your lease as soon as possible so that we may review its terms.
If you do not have a written lease, the bank will allow you to live in the home for at least 90 days, unless the state in which you live provides for you to live in the property for a longer period of time.
Tenants who choose to leave the residence within 30 days will be given a minimum of &2,000 in relocation assistance from the bank if certain requirements are met. If you are interested in relocation assistance, please contact the bank agent as soon as possible.
The bank may need to inspect the property. The agent will contact you when and if an inspection is necessary. You are obligated to allow the inspection and to cooperate with the bank as it inspects the property.
For More Questions Call: Judy Hazen (925) 392-4131 AT firstname.lastname@example.org
What Else Should I Know?
If a tenant accepts relocation assistance, the banks relocation assistance specialist will give the tenant a Move Out Agreement that will detail the condition of property, date of inspection, date tenant agrees to leave, amount of payment, and how the payment will be delivered; and contact the eviction attorney to make sure a lock out does not occur before the move-out date.