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House Eviction

The financial and foreclosure crisis that began in 2006-2007 in America has affected both homeowners and renters, leading to a dramatic increase in evictions and forcing record numbers of families out of their homes. As landlords lost their properties to foreclosure, many renters found themselves subject to eviction through no fault of their own. Tenants living in recently foreclosed properties were threatened with eviction, even though they had faithfully paid rent on their house or apartment and upheld the terms of the lease. To remedy this, in May 2009 President Obama signed into law the Protecting Tenants at Foreclosure Act of 2009. The new law allows renters to continue to live in a foreclosed house or apartment until their lease term expires. A minimum of 90 days must be given in other situations, giving renters more time to find another house to rent. The law also requires the government to pay the moving costs of military service members forces to move from their homes.

Fast Facts

  • Over 311,000 tenants nationwide were evicted from homes in 2008 after lenders took over the properties.
  • Foreclosure tenant evictions in Chicago, IL tripled to nearly 4,000 annually during 2007 and 2008.

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Articles

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  • Deciding to Leave Your House

    If you decide not to fight the foreclosure process and to lease your home, you should contact your attorney. Y...
    • Site: lawfirms.com
    • 3 of 4 user(s) found this useful
  • Staying in Your House For Free

    You can stay in your home during the foreclosure process. Many homeowners are able to avoid paying their mortg...
    • Site: lawfirms.com
    • 8 of 8 user(s) found this useful
  • How to File for Chapter 7 Bankruptcy

    Once you've established that chapter 7 bankruptcy is the best option, and you've completed pre-bankruptcy coun...
    • Site: bankruptcylawfirms.com
    • 5 of 5 user(s) found this useful
  • Renters and Foreclosure

    The sub-prime mortgage industry meltdown is now affecting renters whose landlords have lost their rental prope...
    • Site: foreclosurelawfirms.com
  • Bankruptcy And Your Property

    Of paramount concern to any debtor when filing for bankruptcy is what will become of his property....
    • Site: lawfirms.com
    • 2 of 3 user(s) found this useful

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