Thursday, September 22, 2011

Tenants' Rights on Foreclosed On Properties

Learn on the Helping Families Save Their Home Act of 2009 which is aimed at protecting tenants that live on properties going through foreclosure.   As you know or will learn that banks strongly prefer the properties to be sold AS IS and that means that tenants will come with the property. 

This is an area that present challenge for homeowners facing short sale and also to real estate agents.  How many days in advance should the owner give notice to vacate to the tenants ? 30, 60, or 90 days ?  Should the owner or bank be responsible for cash for key money to aid in relocating the current tenants ?

You do not want to get into problems with LA Housing as some tenants have known to contact LA Housing Dept to complain which result in unwanted visits and issuance of violations which further complicate the short sale process.

Please visit the link below to's  report for more detailed information and avoid any Fair Housing Law :

Tenants' Rights on Foreclosed On Properties

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