Renters Caught In Foreclosure Crisis

Renters have had it good and they’ve had it bad.

On the one hand, the massive home inventory levels has made it a more attractive market for home buyers and those are generally going to be renters. On the other hand, renters who are renting from a landlord that was just foreclosed on often have little recourse than to pack up their stuff and move. They are one of the sad casualties of the mortgage crisis since they generally aren’t at fault when the foreclosure occurs and are very often given little notice (there’s no chance the landlord is going to be notify tenants that they could potentially be evicted, it only reduces a potential revenue stream for them).

What can a tenant do in a situation like this? Very litt.e You could bring the landlord to court for breaking a legal contract but if they’re being foreclosed on they often have other people going after them.