Foreclosure Article


Renting a Foreclosure

1.       Can I rent a property that is in foreclosure?

Yes, but the landlord must provide a written notice of the foreclosure with the rental agreement.

2.       What happens if while I am renting a house the property goes into foreclosure?

If you are renting house and the property goes into foreclosure the landlord must notify you. In fact they must provide you with written notice within 5 business days of the first notice of trustee sale.

3.       Is there a specific form that I need to use to notify a tenant?

Arizona Revised Statute 33-1331 provides a format for how a landlord should set up this information but it is not necessary to use this exact format.  The format is as follows:

This property is undergoing foreclosure. For more information on this action, you should contact ________________ (name, address and phone number of the court where the action is filed or trustee, attorney or other responsible party).

A sale at auction may or may not occur as a result of this foreclosure. Currently, the sale of this property has been set for _________ (time, date and place) or no date for sale of this property has been established.

4.       What happens if the owner fails to provide notice?

If a landlord fails to notify their tenant in writing within 5 business days the tenant may terminate the lease and recover their security deposit. It is also possible to obtain injunctive relief and money for any damages the tenant may have.

5.       As a tenant can I just leave the property if I am not notified properly?

No, a tenant must deliver written notice stating how the landlord breached the agreement and that the rental agreement will end on a specific date. The end date must be at least 10 days after the letter is delivered.

6.       Does this apply to apartment complexes?

No, these laws do not apply to apartment complexes or other multifamily residential complexes that have more than four units.

 

Updated: February 24, 2017


Comments:

QUESTIONS

  • I own a note on a mobile home located in Tucson, AZ. The buyers are behind on their payments. How do i evict them since it is not rent.
  • I recently returned home from a 3 year prison sentence. The home i own was vacant and went into foreclosure. The mortgage company changed the locks, however i still own the home and plan on refinancing and keeping it. Am i allowed back into the house now, to live there since i still legally own it?
  • In 2003 I losa a home to foreclosure.There was over 40,000 of equity in my home. After all debts & liens were paid off,10,000 in excess proceeds was put with the State Treasury of Arizona.How do I go about getting my money back from them?
  • I filed for ch. 7 bankruptcy and my debts were discharged on June 2011. To this date I'm badly behind on my house payments, and my lender offers me a reduced monthly payment of $350. The problem is that my lender does not want to make any promises in writing and does not give me straight answers on what happens if I keep my end of the deal. I'm affraid my lender will simply foreclose when it may fit its interest, disregard of my needs. Also, it is wise to enter into any deals post bankruptcy if my debts are discharded already and thus, uncollectable? Thanks!
  • I bought a house back when the housing market boomed and at the time had a decent job that can pay for the mortgage. A year and a half later my contract ended for the job and now can't afford the mortgage. I am wondering if it's possible to do a short sale with a good amount of savings in the bank? I have 2 mortgages with 2 different lenders. I just don't want to deplete my lifetime savings before I do a short sale. I haven't missed a payment.
  • My home foreclosed last April, i was unable to pay the mortgage and the hoa, i tried making arrangements with both parties but was unsuccessful, now over a year later i am getting a letter from a law office saying i need to pay the hoa. Can they take legal action against me?
  • My husband recently lost his job after working for the company for 10 years they let him go, we couldn’t afford the payment on the house with my pay so we contacted our mortgage they made partial payment plan for us for 12months so we don’t loose our home after some long time of searching for job my husband and used up all the credit cards so we couldn’t pay them all of so we filed for chapter 7 bankruptcy after that my husband found a job and we contacted our WF mortgage loan to start the payment process next thing i know ee got motion filed with the court to forclose our home what should
  • I am living in a house that is in foreclosure. The trustee date is in December, how lolng do I have until I get evicted from the property? How does the whole foreclosure work in AZ?
  • I AM CURRENTLY RENTING A HOME THAT WAS IN FORCLOSURE BEFORE I MOVED IN AND KNEW NOTHING ABOUT. I SIGNED A 18 MONTH LEASE AND AFTER JUST TWO MONTHS, I HAVE TO MOVE OUT. IS THERE SOME LEGAL RIGHTS THAT I HAVE TO RECOUPE SOME OF MY MOVING EXPENSES AND DEPOSIT?
  • I was in a chapter 13 with my only debt being my mortgage. I found out Monday my house has been sold at auction. I never received any type of notifications that my chapter 13 had been dismissed,or any notifications that I was in foreclosure, as a matter of fact I had sent the mortgage co $4,000 the previous month. I believe the sale of my house was illegal since I was never notified..Is this true, if I am never given the opportunity to save my house which are required by law and can I do anything about it now that it's been sold?

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WHAT IF I RENT A HOUSE THAT'S IN FORECLOSURE - The Protecting Tenants at Foreclosure Act

FORECLOSURE DEFICIENCIES IN ARIZONA: Will I still owe money after a foreclosure?

Where can I find legal help with a foreclosure?

Will bankruptcy save my home from foreclosure?

Did you know the Arizona Attorney General’s Office has a wide range of statewide assistance programs funded through the national mortgage settlement that could benefit you or people you know?

Mortgage Reaffirmation Requirements Bogus

Recovering Excess Proceeds After Foreclosure of Your Home

The Mortgage Forgiveness Debt Relief Act

Veterans Facing Foreclosure

LINKS

Arizona Housing Information

HUD in Arizona

Federal Consumer Action Handbook Online

Arizona 2-1-1

Pima County Courts Self Service Center

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