My first post. Next month, I am going to do a strategic default on my California rental house. I am concerned that the renters will be harassed or threatened with a move before their lease is up (Jul 2013). I have a property manager and wonder when I should tell them I am no longer making the mortgage payment. What would the chances be of the lease staying in effect through the foreclosure process?
thanks for your advice!
Facts: purchased in 2000. Cash out refinance in 2006 (recourse loan). But it's a single family home and I know chances are slim for a deficiency judgement.
Underwater by 120K