Renters Caught in Foreclosure Crisis

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Uploaded by on Mar 18, 2008

(Sacramento ) -- As tens of thousands of California homeowners struggle with the foreclosure crisis, renters are being caught in the mortgage meltdown as well. California Assemblymember Alberto Torrico (D-Fremont) has written legislation to insure renters know well ahead of time if their landlord is facing foreclosure. Assembly Bill 25-86 will require lenders to provide a 60 day, tenant specific, notification of pending foreclosure action against the owners of the residence. There's more in this Assembly Web Report.

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  • How about letting the tenant stay and pay the rent to the bank in turn for the tenant to buy the home lost to the owner that had it.

  • AB65 should allow at least 90 days notice rent free!

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