What happens to the tenants of a foreclosed property? Posted on April 01, 2011

Our rented house has a notice of default and will be auctioned off soon, unless a buyer submits an offer and a short sale is approved. If the home doesn't sell at auction, the home will then become a bank owned foreclosure, what does this mean for the tenants who live there on a month-to-month lease? Thank you in advance, we are desperate.

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