Calling all lawyers!

Badgerengr

I just got certified mail from an attourney stating that our apartment building is being forclosed. What does this mean for us? Our landlord hasn't said anything to us and it's a fairly new building.

I called the landlord but they didn't answer. Do I need to get my refrigerator box ready?

LisaTyler1984

The complex I live in has forclosed. It is a very big story all over the news in NY- our former management company lost over 3 BILLION dollars. The buildings all got turned over to their creditors but nothing has changed for us. I still send my rent check in every month. It really depends on the situation. If it's a building, most likely it will just be bought by someone else and you will make out your check to a new person- unless of course they decide to convert it to condos or to a commercial building.

TaniayJohn

As stated earlier, it will likely not change your tenancy, but do make sure to contact your current manager for more details.  I know of a case where the tenants continued to send the rent checks to the address of the "older" landlord, and when the bank did not receive those checks they got an eviction notice.

So stay informed and ask questions.