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