Industry News

Foreclosure tough on renters

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Renters suffer foreclosure woes More and more renters who are in good standing on their rent payments are being forced to move out when their homes go into foreclosure, Reuters reported this week. The problem is the inevitable fallout from the foreclosure crisis that has stricken so many homeowners in recent years, and many attorneys who assist troubled renters say the problem has worsened since last year. In some cases, renters may have up to a couple of months or even as little as a few days to pack up their belongings and vacate the dwelling depending on their state of residence and when they received the foreclosure notice. According to Legal Services of Greater Miami, the group says one in four housing-related calls in recent weeks have come from distressed renters, while last year these calls were few and far between. Nevada Legal Services, which operates statewide, has seen a jump in calls from panicked renters and estimates that 5,000 families have been displaced ...