[wanted222]

My tenant was just served papers on my investment property. I have not been served yet and I was told that I need to respond within 20 days. What do I have to do to do it myself and if I have not officially been served yet when does the this whole time thing begin? I am five months behind in the mortgage and that is why I am getting served. Can you tell me what I need to do? Thank You very much.

[excon]

Can you tell me what I need to do?

Hello w:

What do you want to respond FOR? Do you have a defense? Do you think it will delay foreclosure?

What you need to do is take care of your tenant... Make sure he KNOWS when the house will go up for auction, and make SURE he has his security deposit BACK on that day. Tell him that the new owner can issue a 30 day notice to vacate beginning on that date. Thank him for paying his rent on time, and tell him you're sorry it worked out like this..

You DID use his rent money to eat, didn't you?

excon

[ScottGem]

First, you need to get the papers from the tenant. Tenants don't get served in a foreclosure. They may get notified that a foreclosure is pending, but they are not a party to any suit. So if a summons was served on them, it was served for the address and the owner, not the tenant.

Second, as excon said, unless you can make payment arrangements with the lender, they are going to foreclose. Have you been in contact with the lender? Why have you not been using the rental to pay the mortgage?

As for the tenant, you need to explain to them what's happening. See if they will be interested in buying the property. You might be able to arrange an assignment of the mortgage to them whereby they pay the arrears and take over the payments.

But I have to correct excon on one thing. By Federal law, the tenants will have 90 days from change of ownership to vacate.