Renters and tenants are victims of mortgage crisis

Sep 22, 2008 - 10:56 am | By

Have you received an eviction notice even though you have paid your rent on time?  Chances are that the property owners are in foreclosure.  According to CBS, renters and tenants in Los Angeles are getting evicted in record numbers due to foreclosure by the owners of the property.

35,000 housing units are currently in default within the city of Los Angeles, and are at risk of being lost by their owners. A large percentage of those homes are occupied by renters who face eviction as their residences are sold.

California state law requires a 60 day eviction notice for tenant who has paid on time and is in a month to month lease situation.  Some renters are getting evictions notices telling them they need to get out in less than that time.  Some renter are claiming that they have been asked to leave in 3 days.  If you are in this situation, call your local authorities and report the eviction.  Usually you will receive a revised eviction notice given you 60 days.   Then the real problems begin.   As more people are looking for replacment housing, the available rental market is feeling a spike in demand; rents are certainly to rise.

2 Comments so far
  1. Shawn Shepherd September 23, 2008 9:00 am

    There is a website available for tenants to check and see if their landlord is facing foreclosure- is free for renters to use to check the status of their rental.

  2. Tenant Checker September 23, 2008 9:25 am

    Shawn, great idea! In these calamitious times, we recommend all tenants to check if their landlord or property owner are facing foreclosure.

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