Renters to get some relief when home is in foreclosure
Recently I have had several calls from tenants that need to move due to the fact that their landlord is in foreclosure. I did some research and was not able to find much information for remedies for tenants. Low and behold, today I read 2 articles that directly address this issue.
The first article is a new policy being enacted by Fannie Mae for lender owned homes. They are going to offer tenants the option to continue renting for market value. Click on the link to read the full story:
http://washington.bizjournals.com/washington/stories/2009/01/12/daily62.html?ana=e_du_pub
The 2nd article addresses a new bill being introduced to the AZ legislature. It will require landlords to give tenants at least 30 days written notice if they are in foreclosure and makes it a misdemeanor if they fail to do so. Click on the link to read the full story:
http://phoenix.bizjournals.com/phoenix/stories/2009/01/12/daily43.html?ana=e_du_pub
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