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Renting a Condo Now under forclosure

PostPosted: Wed Oct 06, 2010 6:51 pm
by ayles
Apparently the Bagley Lofts in Wallingford are under severe duress, my unit included. I did my due diligence and research before renting, but as it happens the landlord has not paid his mortgage since the month we moved in.

Has anyone used legal counsel or other as a tenant of a unit under foreclosure proceedings? What was the outcome and costs involved etc... Just trying to gather as much information as possible.

Thanks!

Re: Renting a Condo Now under forclosure

PostPosted: Wed Oct 06, 2010 7:04 pm
by Racket
I'd question why you would want to seek legal counsel?

If your rent is reasonable whoever picks up the place is going to want to keep paying tenants in it. You may lose a deposit or something like that, but a retainer for legal counsel will likely run more than the deposit.


This is much different than a SF foreclosure.

Re: Renting a Condo Now under forclosure

PostPosted: Wed Oct 06, 2010 7:06 pm
by ayles
Seeking legal counsel was one of the advised courses of action in the foreclosure notice for tenants.