Investment Property question

[Underwater]

My Duplex is going into foreclosure. Both sides are currently rented. Will the bank kick my tenants out, or can they pay rent to the bank/new owner and stay after the foreclosure sale?

The tenants are great people, and they do not want to have to leave. I thought that since this is an investment property, the bank may want to keep good rent paying tenants.

[justbroke]

My Duplex is going into foreclosure. Both sides are currently rented. Will the bank kick my tenants out, or can they pay rent to the bank/new owner and stay after the foreclosure sale?

The tenants are great people, and they do not want to have to leave. I thought that since this is an investment property, the bank may want to keep good rent paying tenants.

It depends.

Most lenders will keep the tenants as it doesn't erode their equity in the property. This will usually be dealt with by the attorney hired to perform the foreclosure. They will ask the court to "assign" the rents to the Bank. They will, more than likely, have to eventually leave (upon sale).

Having wrote that, know that they will be foreclosing on the property, and anything could happen at foreclosure. It could sell to someone else (not the Bank). The tenants would then have the statutory number of days to vacate upon a Notice to Quit/Vacate.