Does anyone have any experience with this?

I understand the underlying concepts of foreclosure and receivership, however, I'm not entirely clear what that means for someone who is currently renting or seeking to rent from a building that was foreclosed on and put into receivership. The building has new owners, so I would think in theory it shouldn't be an issue, unless the owners decided to revert back to condos. But I'm only staying for a year, so I'm comforted by that fact.

Thoughts or experiences?

6/16/2010 10:22:25 AM

I'd fucking move. Quick.

6/17/2010 5:00:13 PM

There was a rash of this in Cook County, IL. I think they can throw you out without a moment's notice. The only reason I bring up Cook County is because I read a news article about how the Sheriff was in deep shit because he refused to throw people who hadn't done anything wrong out on their ears.

But yeah, stay FAR FAR AWAY is my advice.

[Edited on June 18, 2010 at 12:39 PM. Reason : .]

6/18/2010 12:38:30 PM

i rented a condo for awhile that went into foreclosure while we were living there. The building owners didn't maintain any of the services or pay any of the bills, so the pool was closed, the front door security was broken and never fixed, the neighborhood dumpster wasn't emptied for more than a month, the power went out in the hallways (fire equipment included), and the whole building's water was about to get shut off before the residents who actually owned units banded together to get the bills paid.

so yea, if its a questionable situation it may just be easier to avoid altogether.

6/21/2010 1:06:03 PM