Foreclosure Eviction Process For Apartments
Description
How to fill out Motion To Dismiss Foreclosure Action And Notice Of Motion?
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FAQ
Under the PTFA, the lease survives foreclosure. You may stay in the property for the entire term of your lease or 90 days, whichever is longer. The only exception to this rule is if the new owner wants to live in your unit, in which case you are still entitled to 90 days before you can be forced to move.
No Redemption Period After a Nonjudicial Foreclosure in Mississippi. Some states have a law that gives a foreclosed homeowner time after the foreclosure sale to redeem the property. In Mississippi, however, you don't get a post-sale redemption period after a foreclosure.
On the contrary, Mississippi laws do not give the right of redemption after the foreclosure. The borrower may have the right to stop the non-judicial foreclosure when you ?reinstate? the loan, as long as the total overdue amount (including interest and fees) will be paid off.
If you don't move out after a 90 day notice, the new owner can start a case in court to evict you. This case is called a holdover.
CCP §1161b(a) requires that nearly all tenants in foreclosed properties receive a 90-day notice before eviction commences, regardless of any relationship between the tenant and former owner. The only exception is for tenants who live in the property with the former owner.