How to Find Out If an Apartment Is In Foreclosure

If your apartment is in foreclosure, you could be evicted.

If you live in an apartment or if you're planning to rent an apartment, it's important to know the financial standing of the apartment complex or landlord. If the landlord or the company that owns the apartment complex is having financial trouble, the building could be in foreclosure. If this is the case, you could be evicted with little or no notice. Eviction is costly, disrupts your life and is completely unfair to the renters involved, so you need to be prepared.

Instructions

1. Contact the company that owns the apartment complex or the landlord. Be direct with your questioning. Ask about the financial standing of the complex and if there is any risk of foreclosure. If you're evicted, you may only have a few days to leave the apartment, so the more information you have, the easier it will be to prepare.

2. Talk with other renters at the apartment complex. Ask if anyone has heard anything about the company that owns the complex or the landlord being in financial trouble. Evictions don't necessarily happen all at once. If you start seeing your neighbors get evicted, the apartment complex may be in foreclosure.

3. Find out the lender for the company that owns the apartment complex or the landlord. If the company or landlord has defaulted on obligations to the lender, the lender may seize the property. In this case, you could be evicted. Contact the lender directly, and ask about your property. If the foreclosure is already in progress, you may be able to get some information about if and when you'll be evicted.

4. Visit RentalForeclosure.com, and click on "Foreclosure Information." From this page, you can enter your state and view available information about foreclosures in your area. You can also contact RentalForeclosure.com to request more information.

Tips & Warnings

• Verify the information you find before taking action. If one of your neighbors has heard a rumor about foreclosure, for example, talk to your landlord, the company that owns your apartment complex or their lender before moving out of your apartment. Take steps ensure the information you received is accurate before relocating your family.

References

• JobMag: Find Out if Your Home, Apartment or Condo is in Foreclosure