How can I sell a house with tenants to avoid foreclosure?

The banks sent you "payment overdue" noticesactually backfire.
and now you want to put your house up for sale.In the past couple of years, new laws support
Obviously you want to sell your home fast torenters and you might find yourself stuck in a
avoid foreclosure. Ideally, you hope for yourlawsuit. President Obama signed the "Protecting
asking price, but at this point, you're evenTenants at Foreclosure Act of 2009" on May 20,
considering a short sale.2009. This legislation means that leases survive a
 foreclosure. In other words, the tenant can stay
The problem…at least until the end of the lease and
You have reliable tenants in your house. Can youmonth-to-month tenants are entitled to 90 days'
sell the house with renters still living in thenotice before having to move out. In the case of
property you own?a month-to-month lease, undergoing a short-sale is
 much easier.
The approach… 
You must first determine what kind of contractAn exception was carved out for the buyer who
or lease you and your tenants signed. Is it aintends to live on the property; this buyer may
year-long lease? Is it a month-to-month contract?terminate a lease with 90 days' notice. The law
The legal background...adds that any state legislation that is more
With a long-term lease in the picture, you mightgenerous to tenants will not be preempted by the
want to wait for the contract to end. Please befederal law. These protections apply to Section 8
very wary before putting your property for sale.tenants, too.
In case your house hasn't gone through a 
foreclosure, your signed lease takes precedence.Another option...
You could cajole your tenants into leaving or offerYou can always offer to buy out your tenant's
monetary incentives, but you cannot force themlease. This is sometimes ample incentive to
to vacate your house. Forcibly evicting tenants orencourage their early departure so that you can
not providing enough time for them to move canproceed with your sale.