My Tenant is filing bankrupcy and stop paying for rent. What should I do? Posted on March 16, 2011
This is in Michigan. I have a condo is managed by Century 21. They called me saying that my tenant is filing bankruptcy and has stopped paying for rent. They already started the eviction process but don't know long they can get rid of them. I had been out of job for 7 months and just found a new job. If they don't pay the rent for 2 months then I have to file bankruptcy. My mortgage payment and equity loan is more than or equal to how much my house is worth. I'm thinking about giving up that condo. What should I do? I made it through my unemployment. I really don't want to file bankruptcy but what else can I do? How long is the eviction process take? Will I win it in court?
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