Do you think this law should be changed?

Question

In most states, when a bank forecloses on a landlord, the tenant has no guarantee of being allowed to stay in the property. In addition, neither the bank nor the landlord has any legal obligation to inform the tenant of the foreclosure. Often, the renter first learns of the foreclosure when he or she is being told to vacate the property within a few days or weeks.

http://www.cnn.com/2007/US/11/30/willis.rentervictims/index.html

Answer 1

No, because it unduly burdens a lender who is already burdened by the landlord's default on the mortgage.

I would support imposing a legal duty upon landlords who face disclosure, requiring them to notify tenants by registered mail of foreclosure actions which may jeopardize their tenancy until the end of the lease term. A tenant displaced after failure to notify would be entitled to reasonable expenses related to their eviction and relocation.

Answer 2

Yes, I do think the tenants should be advised long before the foreclosure. I think it is the landlords responsibility. However, the bank/finance company that is doing the foreclosure should also do their homework and find out if there are any tenants. If there are, then the finance company doing the foreclosure should be held responsible for letting the tenant have a 30 day notice.

Answer 3

Yes, I think the law should be changed. Banks are whining about being landlords when they did a lot to create the housing mess in the first place with risky lending practices. So they don't want to be long term landlords? Well, tough! Maybe they should have thought of that before they pushed the bottom line over realistic lending limitations. Perhaps if we, as the average voter, start holding banks and credit companies accountable for their own bad choices there will be hope for the economy.

Answer 4

No, I don;t think that should be changed. When the bank forecloses an a building, they often want to sell it right away and not have to deal with collecting rent, fixing tenant issues, ect. It is a bad situation for the renters, but the bank should not be harmed because of that either.

Answer 5

Sure, the tenant should have to be notified. The law should indeed be changed. But in this case, I specifically noted the tenant ignored the eviction letters...not so proactive Ms. Willis. Yes it's horrible, but how can she really act suprised??

Answer 6

They should be warned as soon as the transaction takes place AND be give reasonable time to move. Also, they should be able to stay until their rent payment is up or it should be refunded.

Answer 7

I absolutely without a doubt KNOW! the tenant must be notified. The sad thing is that there are places in this world where people have to go to buy property, to live, for the reasons the tax rate is so high here in the US. due to Washingtion, which makes it virtually impossible for one to stay in the U.S that as you can see is no fault of ours but is all the fault of the government. And to make matters worse not even the President, knows the laws,in the debates they even misquoted the constitution..The President, just takes orders from his people in the White house. Whats going on around the world as we see it. When Washingtion, makes it so hard for us as United States Citizens to live here anymore.
Then we the people are finding ourselfs having to go to other Countries, to live in order just to feed our families. And in some parts of the land, if you move out of the US. buy a home you have no rights to that home as their goverment owns the title. They hold the title not you. Why? well its because we are foreigners in their land now. So if you wanted to sell your house in another country. You have to buy your title back from their country. US citizens and all forigners who are allowed to own their own property, or should I say half their title to their property,must buy their title back. But, not their own people why? beacuse what they do is to incourage us to spend our money and invest in their lands due to the peso's. But, once your there you have no rights becasue in reality they look at us as forenigers, but incourage us to come and buy, spend, have great times while taking your families on a nice trip. And once you buy as its so cheap. Then their laws only permit the US citizens to buy very little but in their most expensive places to live, and not only that, your only allowed one piece of property in which there politians truly own the title. Even if you hold the title you still have to pay them to buy your title back and sell your land. Whats going on here is Bribery. And thats it in a nut shell. What it boils down to now is just look at this do you realize that washington is incouraging Immigrants to come here to, get SSI, with out having to pay taxes. I am not going to get into a debate but I can sure tell you this that now you have the political people your federal and even down to the little local lawyers, and judges. Some incouragae you how to do deal with your foreclosures in the most corrupted ways dreamed possible. And yes, this is what they do, they say hey let's say were going to help you save your home so lets get lots of insurance on your home or up it before it goes in to forclosure. Then lets plan an accident at your home or property, then we can collect, save your home
then if you want to cover all this up by just doing a chapter 13, and you can still save your home and we can also share in the insurance monies together. Well guys, this is what truly is going on, and for the ones who feel that the tenant has no rights as to the banks and loan companies I suggest you hire a high profile appeals attorney, like mine who's not out for the bucks, he's their to help people like you to uncover the corruption that these companies are doing to scare you to death, either taking your property for their own gain or have you pay way to high of an interest rate to which they can pocket a large portion the % and reap in the rewards of your parents hard earned money, your families money that they worked so hard to gain hoping to leave for their grandchildren to reap the rewards and to make sure your always secure never having to worry about you kids. I got to say you have to be working for them in order for anyone who makes a statement like that, knowing what has happened to us all, as for our amedments and cilvil rights .Those that dare say they agree tells you right there that they to are of the corrupted ones. So how much money did you make off of some one elses property for the banker to the thief. This I am fighting for to gain our right back our land, our dignity and further more I feel "donald duck' would be a better president, than the choices we have now.. Also when watching the semi debate on CNN the other night. I want to let you know that the Canidates, were totally against appearing in that format the way it happened. Why? Because they didn't want to here what we as the people who vote for them wanted, or hear what we had to say. They were so nervous and didn't come up with any true yes's or No's to show us they could do the job as our next president. What ever happened to the days when one was running for office, when they use to come around to your homes and sit with you have coffee and spend hours with you on what would we like to see change. Why they don't want to any more for the exact reasons the other night on CNN. They didn't have a clue as how to answer us because they truly arent going to change . Now think about why so many have had to be forced in to foreclosure. Just think, where is our money going? I was shocked to find that we are spending more money in Alaska alone, to research the DNA;s of the Polar bears, than to find alternative energy sources. The research in health is all I hear over and over again, but now I find this out, Wow!., Now you know why some people can't afford health insurance today. I don't mind if immagrients, come here as long as they have to pay taxes like we do. This is what it all boils down to.. Now we all know we are in a recession more than ever don't we? And its plane to see that what Washingtion is trying to do is get the US people out of high paying jobs, and bring in the immagrients to pay them at low cost hoping to bring back the monies that Washington has stolen from us along with the insurance companies, thats one way to try to save themselfs at our cost. Then we have our own political people that have now reverted to once again I say Bribery! This was the best debate I have ever seen in my enitre life as a voter... This is where we will see that this way of voting folks, is going to be the next law that is changed for us and our children, this is the only way to find out the truth. So, I am with the people whom believe that you cant trust the voting machines.We are always having to recount until we get it right!! I do not trust the way the people are made to vote as they do not either. The ones and only ones whom still insist our voting ways going behind a curtain to vote to me means nothing anymore. I feel the only way to get back our Country, and our rights is to insist on CNN Copper's way! This soon shall change. Like I said folks donald duck would be a much better president then what we have seen.