An opponent of Jon Grant is making hay of his house, but experts say there’s nothing amoral about buying from a bank. Tenants in Rent-Controlled & Rent Stabilized Units: Regardless of the outcome of a foreclosure, tenants in rent-controlled and rent-stabilized units maintain the same rights and obligations as they did under agreements with their previous landlords.
In its investigation, The Times found that Harbour had bought around 7,000 single-family homes in bulk sales from Fannie, the large government-controlled mortgage finance firm. There’s a fair chance you’ll end up exceeding your budget, especially for foreclosed homes.
Requests must be delivered in person or by mail and received in the main tax office at 5501 Airport Blvd at least 5 business days before the date of the sale. Homes in foreclosure can be sold in different ways, depending on the province’s regulations. If your landlord defaults on a mortgage loan and doesn’t work something out with the lender, the home may be sold at a sheriff’s sale.
Financial institutions typically want to rid themselves of foreclosed properties promptly (for a reasonable price, of course – they have to answer to investors and auditors that they made every attempt to recoup as much of the original loan amount as possible).
So increased interest and competition – not just from potential occupants but from investors and flip professionals – are inevitable when dealing with worthwhile foreclosed properties. You may learn about the foreclosure from a notice posted on your home advertising a sheriff’s sale.