Texas Apartment Building Foreclosure Forces Unexpected Tenant Move

Media stories from Arlington, Texas are reporting on a residential apartment building that has been foreclosed on by the mortgage lender and is kicking out all the tenants.

The Fort Worth Star-Telegram reports:

• Residents at some central Arlington apartments are looking for new homes and answers this week after learning their complex was foreclosed and they must move out by the end of the month. [One tenant] said Thursday that she received a letter from management on Sept. 4 giving her 30 days to move out of the Grey Stoke Apartments on Rogers Street. She said she moved into the complex with her teen-age son three months ago and did not know the apartment was in financial trouble. Other residents ... said they never received a letter and that apartment managers are not giving tenants any information.

CBS11TV (Dallas - Fort Worth) reports:

• CBS 11 News went to the complex where residents said they were angry, frustrated, and confused. They say they never knew the owner was having financial problems until they got eviction notices. [...] Problems began when property owner Stephen Gould, of New Hampshire, stopped making mortgage payments on the Greystoke Apartments. The complex went into foreclosure and the bank Aurora Loan Service took over and decided all residents must go.

For more, see:

• Apartment foreclosure forces residents out (Star-Telegram) (if link expired, try here),
• Arlington Apartment Residents Being Evicted (CBS Channel 11),
• Go here to watch the Channel 11 video report, Bankrupt Apartments.

For other stories on tenants unknowingly renting homes in foreclosure, go here, or here, or here. unwittingly equity skimming beta