we just found out that the condo we are renting is being auctioned off in 6 days, oct 11. We have had no contact or notice in regard to this...

Question

we just found out that the condo we are renting is being auctioned off in 6 days, oct 11. We have had no contact or notice in regard to this. What are our options

Answer

Please visit:

http://www.massresources.org/foreclosure-tenant-rights.html

On the other hand...if you've got $5,000 in the bank, and can get a mortgage within 30 days for the balance due, you should consider going to the auction and buying the condo.

Best of Luck!

Answer

You can bid for the home. Massachusetts law requires that your current lease be honored by the buyer if you have one. You should also demand from the Landlord return of security deposit and last month's rent if given as a deposit.

If you do not have a lease, they will have to evict you. If you are elderly or have a young child you are entitled to stay 6 months before moving. If the lender buys it, they will try to sell it quickly, you might be able to make a better deal if the lender buys it, assuming you want to buy the Condo.

If you decide you need assistance, please call me.