I am a Property manager at this apartment going on foreclosure next December 2nd, what could happen?
Dec 15, 2009 in
Financial and Loan Tips
Armando D
In the event of foreclosure , do the bank will continue on or utilities will be shut -off ?? WAMU is the lender.
In the event of foreclosure , do the bank will continue on or utilities will be shut -off ?? WAMU is the lender.
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One comment
glenn on December 17, 2009 at 4:58 am
Normally the bank can legally cancel all leases and all employment contracts including property management. They can also cut off utilities.
In the case of an apartment it is not in the banks best interest to do most of those things. They normally want good tenants to remain. They may have an agreement with a different company to do the property management though.