Good news for tenants in foreclosed homes
If you're a tenant, there is some good news for you. A new federal law
now protects tenants from being kicked out of their homes if their landlord has
gone into foreclosure. The new law says it the tenant has a valid lease, the
foreclosing bank must honor the term of the lease. If there is no lease, the
bank must give the tenant 90 days notice to vacate. Before, some tenants who had
been faithfully paying their rent found themselves being evicted because the
landlord did not pay the mortgage.
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