My brother has been renting a house through a management company , He was just served a summons that the property he is renting is being forclosed and he has 20 days to respond to this action. Apparently the payments have never been made on this property and the builder has been renting out 12 propertys one of the investors passed away and they are trying to liquidate the 12 propertys. Shouldn't the management company told him before he rented what was going on? And who pays his security and expenses being he has 20 days to comply the amount owed is 252,000 which the home is not worth. Wouldn't a bank prefer to rent a home then to have it forclosed?What about security deposit?

Hello D:

He isn't an owner and therefore doesn't have any responsibility toward the bank. I don't know why he was summoned. He certainly can't be the defendant. You'll need to tell me more, like what does the summons say.

The management company owed him no explanation. His landlord owes the security deposit back. He pays his own expenses. The bank might want to rent it AFTER it's foreclosed upon, assuming the bank still owns it. Or, maybe the guy who buys it will. Wait till it happens, and get in touch with the buyer.

excon