In September, residents of Ora Oakland were alerted to a foreclosure process initiated against their property when they received a generic letter. The communication created panic as it hinted at impending changes to their living situation. Foreclosure is commonly seen in the area but was startling for these tenants, who had been attracted to the building in Oakland's recent real estate boom. Under new management, the property's financial struggles became evident, along with increasing tenant turnover and incentives to retain residents.
The certified letter came in a nondescript envelope. Over 70 copies were mailed to the building, but each was addressed to the same recipient: Resident of property subject to foreclosure sale.
Foreclosure process has begun on this property, which may affect your right to continue to live in this property... Foreclosures are actually pretty common and rarely make the news.
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