More notification for renters?
A bill working its way through the City Council aims to "prevent tenants from being notified of a foreclosure for the first time when a sheriff's deputy arrives to evict them," as John Fritze reports today:
The proposal requires tenants of foreclosed property to be notified by certified mail and first-class mail at least two weeks before the eviction takes place and also requires that notice be posted on the property a week in advance."That will eliminate renters suddenly being evicted while totally unaware their landlords are being foreclosed upon," said Mel Freeman, president of the board of the Citizens Planning and Housing Association, which has advocated for the legislation.
That's a problem, as we noted in this story last week.
Renters, how much notice would you need to find a new place and move your belongings?
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Comments
It's great that they are looking out for the
renter.
If someone were being evicted for any
other reason, you'd have to give them
notice.
The owner has received several notices
I'm sure from the bank that they are
about to foreclose or whatever the
situation may be with the bank. The
tenant should of been informed.
Posted by: Stacey | May 21, 2008 10:17 AM
In last weeks piece I commented here that it shouldn't be onerous and is actually in the best interest of all the stakeholders (except the defaulting landlord) to notify the tenant as early in the process as possible.
The bank may not know who actually lives there without some investigation. Things as simple as asking BGE who is named on their bill for the address will tell them who to contact.
Do this immediately. As soon as the lender knows there is even a possibility of foreclosure the tenant should be notified. Even go so far as to set up a rent escrow account for future rent to be paid.
Actually this may be the best solution and opens the door for a continued (responsible) tenancy rather than eviction and perhaps this escrowed rent money could add up to enough to allow the tenant to buy the properties.
Posted by: MrRational | May 21, 2008 12:48 PM