Tenant rights during foreclosure

02/20/2010 12:51:00 AM
Posted by admin

The Protecting Tenants at Foreclosure Act protects renters at the expense of the mortgage holders.

Under the Protecting Tenants at Foreclosure Act, which Congress passed last May, tenants like Pearson are usually eligible to stay after the property has been foreclosed as long as they have a valid lease and are paying their rent regularly. Even renters on a month-to-month lease get 90 days to leave.

But tenant advocacy groups charge that lender representatives, including some unscrupulous real estate agents, have been preying on tenants’ ignorance. They pressure renters by sending them misleading letters that drive some out.


This entry was posted on Saturday, February 20th, 2010 at 12:51 am and is filed under Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a comment, or trackback from your own site. You can .
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