Tuesday, March 3, 2009

Tenant Rights in Foreclosure

You made all of your monthly payments, but your landlord has not been as responsible as you. The home you live is about to be foreclosed and you are about to be evicted. Do you have an rights? Probably not many. The National Law Center on Homelessness & Poverty and the National Low Income Housing Coalition have issued a report detailing tenants rights in foreclosed home for all 50 states.

The dramatic rise in loss of home ownership through foreclosures is a direct result of the current mortgage crisis. Although the emergency has been well documented in recent months, less attention has been paid to the plight of tenants living in rental properties adversely affected by the systemic nature of this crisis. Many tenants, even those who may be current in their rent payments and in full compliance with their lease terms, face an increased risk of housing loss as a direct consequence of foreclosure proceedings, collateral consequences of such proceedings or through subsequent possessory actions commenced by new owners.

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