ACCEPTING RENT AFTER FORCLOSURE BEGINS

[JANE C]

I AM A WAREHOUSEMAN AND STORE FREIGHT IN FLORIDA. ONE OF MY ACCOUNTS IS SERIOUSLY IN AREARS AND I HAVE BEGUN TO FORCLOSE ON HIS PROPERTIES STORED IN MY WAREHOUSE. AFTER THE TENNANT RECIEVED THE DEMAND LETTER NOTIFING HIM OF THE FORCLOSURE PROCEEDINGS HE SENT ME THE EQUIVLANT OF ONE MONTHS RENT. THIS PAYMENT DOES NOT BRING HIS ACCOUNT CURRENT.

MY QUESTIONS ARE, CAN I ACCEPT THE PAYMENT, APPLY IT TO THE PAST DUE BALANCE AND STILL PROCEED WITH THE ORIGIONAL FORCOSURE? DO I HAVE TO BEGIN AGAIN WITH NEW FORCLOSURE DATES IF I ACCEPT THE PAYMENT? DO I RETURN HIS PAYMENT TO HIM AND CONTINUE WITH THE ORIGIONAL DEMAND?

THESE PEOPLE OWE ME SEVERAL THOUSAND DOLLARS. BECAUSE OF THEIR "LATE PAY" MODE I AM STRUGGLING WITH MY OWN MORTAGAE.

I APPRECIATE ANY HELP.

JANE C.

 

[Cvillecpm]

Maybe......

If your note, security instrument has an "assignment of rents" clause, yes. Otherwise, you can't benefit from the rents, only the property.