How timely! After blogging about my clients that were almost homeless, Elizabeth Razzi of the Local Address blog ran this story:
"Renters Get New Protection From Foreclosure".
To quote Elizabeth:
"Starting immediately, the law requires that tenants who pay their rent on time can remain in their home until the end of their lease, unless the bank sells the property to someone who intends to make it his own residence. Even without a lease, renters must be allowed to stay in their home for 90 days after the foreclosure."
This is a big change from the previous policy which was "GET OUT NOW". Yea!
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