Foreclosed Properties' Tenants Get Help Too »
Posted By altnrg 1 year ago in News
Tenants in foreclosed properties across the country are being helped by sheriffs, legislators and community associations to protect them from unlawful evictions.
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nostalgia1 year ago
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I listened to a discussion on this very topic on a business show several weeks ago
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A banker from the midwest - from a small community bank - said that small banks would never do this
They would foreclose on the house if they couldn't work something out with the owner but would never evict a paying tenant.
He said that when you deal with large national banks/mortgage companies it is a different story. The decision isn't made locally with the large financial institutions. A regional or even national office makes the decision on foreclosure/eviction
Another good reason to deal with smaller local banks/credit unions and avoid the mega banks -
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pjd1201 year ago
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I think this is excellent that they are trying to protect the tenants that live in properties that are about to be foreclosed upon. It isn't their fault, they have paid their rent and shouldn't be subject to an eviction. I saw on the news in some state where the sherrif stated the he was not sitting anymore tenants out where the home was being foreclosed upon, and that the lenders need to work out something with the tenants. It is going to be a long time before we will recover from this mortgage mess.
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lloydm651 year ago
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Yes it will take a while to fix the mortgage mess,we should take steps now to avoid it happening again.# 1 abolish the CRA totally,# 2 disban Acorn,or at least put a leash on it.#3Do away with freddie,and fannie,it was nothing more than a retirement village for displaced democrats who with the help of many congressmen,and senators robbed,and pillaged it for years.I can't even image a Rains,or a Gorlic standing in front of a judge trying to justify the countless millions of US dollars they took in bonuses.Rains ninety six million in six years,Gorlick twenty six million in only two years.They were only the tip of the iceberg.They had to know the ship was going down,so to hell with the people being hurt just grab the loot
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