Obama's New Tenant Law....(sigh)

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Posted by acw on October 30, 2009 at 18:45:12:

Anyone familiar with this new law enacted earlier this year?

It states that anyone who purchases a home at a foreclosure sale (or in foreclosure), will have to honor the current tenant's lease.

Here is the link
http://tenantstogether.org/article.php?id=723

So if you purchase a home at a foreclosure sale, you will have to live with the current tenant and maybe even be forced to evict them if they are paying. This can be very cumbersome if their existing lease is not favorable for the landlord.

I don't know about you but i can see a Hugh window of opportunity for tenants to defraud the owners and buyers of homes in foreclosure....just simply not pay the rent or force the landlord to go through the eviction process.

As a property purchaser at the sales, does anyone see a way around this?



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