Section 8 Tenant in Duplex being short sold!

Does anyone have a clue if a section 8 tenant will be eligible for relo money in an investor short sale?

1st lien BoA 2nd Lien Chase-property in CA

thanks

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Permalink Reply by Wayne Brooks on May 17, 2013 at 11:26am
Agree with Brian. Also, buyer may want them to stay.
Permalink Reply by SE Davis on May 19, 2013 at 1:10am

Research the Bank of America COOP short sale program. This program has flex for similar situations.

Permalink Reply by Marti Sauers on May 19, 2013 at 3:24am

I worked with Section 8 qualified housing in Missouri and know LLTT rights in AZ.  But, it will really depend on California code regarding Tenancy.  In AZ, the lease runs with the land.  A short sale doesn't affect Tenant's rights because it's a voluntary sale, just like any other sale, so the Tenant's rights remain fully in-tact.  Unfortunately, many illegal evictions have been served here and complied with due to lack of knowledge.   Foreclosure has a different bearing on the Lease, but this is a short sale. Here's a link to the CA LLTT act.  http://www.dca.ca.gov/publications/landlordbook/catenant.pdf

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