Foreclosure in Boston occurs when you have failed in making payments on your mortgages or secured loans and your lender(s) has considered selling your property so as to recover what you owe to them. When facing a foreclosure don’t let go without a fight because of the implications it has on your credit profile which may make it harder to buy a new house, or even in finding a job especially in the financial sector.Tax bills may also accrue where what is recovered is less than what you owed above losing your property.
Foreclosure ordinances in Boston
The foreclosure ordinances in Boston exist so as to address the issues that may arise on the wake of vacant homes such as the receptiveness to vandalism, unlocked houses, uncut and overgrown grass, yards full of litter and trash, unattended swimming pools not only a threats to children but also a breeding site for rodents, mosquitoes among others. These ordinances require all residential property owners; lenders, trustees, service customers to register and properly maintain the properties in accordance to the sanitary codes, building codes and local regulations.
Tenancy and foreclosure
As a tenant it is not even a requirement for the landlord to inform you of the fact that the house is subject to a foreclosure in Boston.Which means that during the foreclosure you have rights guaranteed by the state even when the house is foreclosed. It is upon the new owner to make his/her contacts available to you either directly or through a property management company.
When to vacate?
In Boston foreclosure, you don’t have to vacate immediately.If you had a lease agreement with the initial owner it will become a tenancy at will.You will continue residing as a tenant at will until your lease expires. If you were a tenant at will it will remain so. Should the new owner wish to vacate you he/she must serve you with a 30days’ notice to leave the premises on whose expiry will seek a court order to evict you.Only the housing court judge can evict you.Section 8 tenants, tenants who are beneficiaries of federal or state rental assistance, do not become tenants at will on foreclosure in Boston. They have the rights to remain in their units until the end of their lease terms, providedthey abide by the terms of the lease.
Cash for keys: it’sanoffer usually made in Boston Foreclosure to quicken the eviction process.You are not obliged to take and before agreeing to take it make sure it will cover your incidental expenses such as moving expenses and whether you have another place to move in.
Rent payments: they are to be made to the new owner. Ensure you have the correct information, in case your landlord refuses to take rent from you, keep the record of the refusals and open a separate account for those amounts as evidence.
Tenants and landlords responsibilities
As the tenant continue abiding to the existing lease obligations likewise the landlord on their side maintain reliable premises according to the state laws.Failure to respond to various request such as repairs, the tenants can file complaints with inspectional services department or the state’s attorney general’s office.
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