Aundrea Beach-Greco Blog

Five Ways the New Housing Law Benefits Home Owners:: BENEFIT #5 – Tenants are Better Protected in the Event of Their Landlord’s Foreclosure
May 26th, 2009 7:02 PM
FOR IMMEDIATE RELEASE
5.26.09

Five Ways the New Housing Law Benefits Home Owners

Benefit #5 – Tenants are Better Protected in the Event of Their Landlord’s Foreclosure
“Many renters have been forced to leave their homes because of their landlord going through foreclosure,” Nicholas said. The new law provides two minimum guidelines that protect tenants:

  • Tenants are now allowed to occupy the property until the end of their lease term (even after the landlord goes through foreclosure) as long as the new buyer does not intend to occupy the new home as their own primary residence
  • If the new buyer intends to occupy the home as their own primary residence, the tenant must be given a 90 day notice before being forced to leave

It is more important than ever before for home owners and buyers to work with a Certified Mortgage Planning Specialist, especially with all the rapid changes that are constantly taking place in the mortgage and housing markets.


Contact:
Aundrea Beach-Greco
CMPS
info@aundreabeach.com
(702) 326-7866
(877) AUNDREA



Posted by Aundrea Beach-Greco on May 26th, 2009 7:02 PMPost a Comment (0)

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