Our Cabin is paid for but it is at 6000 feet and we can't live up there in winter and it's 45 miles from town 1/2 dirt roads.
The word I got is that the bank won't get any bidders and will look to evict anyone still in property.
I am going to Property Managers today and negotiate a deal to use my deposit for the next 2 months rent. I will give them a liitle cash to sweeten the deal. Either that or the Owner gets nothing from me and I put my rent into an escrow account and wait for the new owners to contact me. There are other court filings I have read about too.
My main concern is getting leverage on my deposit, now, rather than later.
The new law states that the new owner is responsible to refund the deposit of any tennants. Rumor is, the Banks are renegging on paying it back. I don't want to have to go to small claims to get my money back.
I can win in court and still not get my money. Been there done that.