Foreclosure Notice is a Formality - You are Protected by NYS Rent Laws
A foreclosure suit against the current owner was filed in federal court last Tuesday, February 16th.
Foreclosure law requires posting of an ALARMING notice that says “you will be allowed to stay in your apartment for the time being.” We anticipate that this notice, intended as a consumer protection, will be posted shortly.
DO NOT BE FRIGHTENED.
The notice is a formality. Your right to remain in your home is protected by New York State rent laws. The foreclosure suit itself also makes clear that it does not affect current leases.
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