Legal Question in Real Estate Law in Texas

Complex Posted for Foreclosure

I've been living in an apartment at this complex for 5 years. My lease is up at the end of the month. I just learned today from an article in the local newspaper that the property is posted for foreclosure next month. Should I forget about signing a lease and go month to month for a while in case there are problems with upkeep, etc. The complex is just 5 years old but I'm concerned that the bank won't continue to invest in maintenace of the unitls and common areas if they take the property in foreclosure.


Asked on 7/17/09, 10:40 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Complex Posted for Foreclosure

There is a good chance that the loan will be re-negotiated before the foreclosure takes place. You have a dice roll - who knows what would happen! If it were me, I would negotiate for the best lease I could and bite the bullet for the next year. Good luck.

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Answered on 7/18/09, 11:59 am


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