Yes -- vastly different situations. If the mortgage holder cannot fulfill the terms of the mortgage, the lender is perfectly justified in foreclosing. Frankly it is nobody's business what they do with the asset after it's reclaimed. If you're a tenant and your apartment is getting foreclosed on, I think that your lease should remain in effect until its termination, or the bank should buy out the rest of your lease.
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Re: I'd like to know more about these cases.
Date: 2009-10-30 02:31 pm (UTC)