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Brevard County Space Coast: Palm Bay, Melbourne, Titusville area
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Old 11-04-2013, 11:18 AM
1 posts, read 1,239 times
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The property we are renting has been in foreclosure for some time.
Long story short, the HOA put a lein on the property in April and we're now paying rent to the HOA. We do not have a lease, but because we were good tenants, we have been able to stay and pay month to month.
The other day we were served the papers for foreclosure from the bank (i'm not sure of all the processes so bare with me) with the owners name on it as well as Unknown Tenant #1 and Unknown Tenant #2. My boyfriend and I gave our names for the process server so now they have our names. Reading through all the jargon, I picked up on a part that states that the defendants listed (which I'm assuming would now include us) have 20 days to put in writing any discrepancy or whatnot.
Can this somehow come back on us and our credit even though we had nothing to do with the mortgage?
Also, it mentions something about having an "interest" in the property. Do we also have the potential to buy the property? The mortgage due is well above what the property is now worth but we had previously considered a short sale.
The property is in Brevard County Florida.

Thank you!
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Old 11-07-2013, 02:00 PM
319 posts, read 1,243,249 times
Reputation: 320
Here is a .pdf guide that should help you understand the process, it is from a Miami area affordable housing coaliton: http://www.miamidade.gov%2Fforeclosu...,d.eW0&cad=rja

Your interest in the property is a leasehold interest, not a right to purchase. Hopefully this helps you out.
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