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Old 04-13-2010, 01:33 PM
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Default What is a home foreclosure and how does it

effect renters? My friend lives in a 4 apartments house in NYC for years. He rents a 2 bedroom apartment so does the other 3 tenants too. About a months ago they received an official letter package about foreclosing the house. The landlord lives somewhere else and they couldn't reach her yet to asking question. So what's gonna happen now? What can they expect? Someone said stop paying the rent it doesn't matter now, some others said they better move somewhere else because one day officials will lock the house and anything belonging left inside is lost for they forever the official will possess. Is it true? They are just tenants! If this true when this will happen? What they supposed to do??
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