I live In NYC, I am a renter, my landlord has not paid her mortage and the mortage company has threatened?

Question

to forclose on the property. Can I be evicted from my apartment as well?

to forclose on the house. I am a tenant in a 2 family house. The main house and my studio apartment which I pay $675 a month floor.

Answer 1

Is the entire building being foreclosed upon or just the apartment in which you live?

If the entire building is being forclosed upon, your lease will remain in effect and you will be required to pay your rent to the receivership.

If you live in a condo or co-op owned by an individual, yes, you can and will be evicted but there are ways to play your cards right in this situation.

You will have to negotiate with the lender, but usually you can get cash from them to pay for your relocation expenses because it is cheaper for them to pony up some cash to get you out rather than evict you through legal proceedings.

Tell them you want "key money". That means you give them the keys and leave without any muss or fuss, and they give you cash in return.

ok, the fact that you are in an owner-occupied 2-family changes things. When you said NYC, I took it to mean NYC as in Manhattan and not Queens or Brooklyn or something. The first thing you need to do is find out if you are an a legal or illegal 2-family.

To do this, you will need the block and lot of the property. You can get this at the municipal building of your boro. Then you will need to see what the C.O. (Certificate of Occupancy) says (1 family, 2 family etc) If it says one family, make a photocopy for your records.

If it says one family, stop paying your rent immediately. If they take you to Housing Court, show the Judge the C.O. and he will toss their case out. They will have to refile in Supreme Court, which is a lengthy process. You do not have to pay rent during this time AND you do not have to leave. They will send you all kinds of notices, but until the Judge orders you to vacate, you do NOT have to leave.

There are many ways to handle the Supreme Court case in order to give yourself more time to save money to move. It will take them months to get you out if they have illegally rented you a unit. If the area is zoned for two family units, they may seek to have the apartment legalized and that would change the situation.

I notice your name says "Hoboken". If it turns out you live in Hudson County instead of New York Cunty, Kings County, Queens County, Richmond County, etc ... the procedure is slightly different.

If a one or two family home in one of the boro's is foreclosed upon, it is fairly easy to evict the tenant. You would have no way of finding out the new owners intent until they take over and serve you with the proper notices. It's best to start preparing yourself for a move so that you have time to find another suitable place.

How did you get a studio for $675 in NYC? Those are 1980 prices.

Answer 2

Be careful- I suggest that all the tenants get together an deal with the mortgage company- they make love to empty the building as then the rents can be raised. Suggest you go to you City Councilmans office as well

Answer 3

The new owner is usually bound by the terms of the lease. However, if your landlord is not paying the mortgage, you may have to prove that you paid your rent. Make sure you have a copy of the lease, you may have to proof you have a lease.

Answer 4

Heck no. Its so hard to evict renters, especially in NYC.
Plus, if the bank forecloses, the last thing they want is a vacant building on their hands. They want renters in there, providing a steady stream of income.

Answer 5

I'm not sure, there should be something about it in your contract one way or the other..It seems that you'd be evicted though and even if you're not I wouldn't want to live under an irresponsible landlord. I wish you luck.

Answer 6

You have a studio for $675? Where do you live, by the airport?

Answer 7

Depends on who buys the property. If they want to continue renting I doubt it.