Renters aren’t immune to the heartache of foreclosure. When their landlords default on the mortgage, tenants could be squeezed out of a place to live. But often renters aren’t aware of their rights in these situations.

In a slow real estate market developers and condominium owners are putting pressure on rules and laws that limit rentals to seniors. Many projects are looking at relaxing rules in order to attract a bigger pool of renters. There is nothing magical about 62 or 55 years of age when determining senior rentals housing restrictions.

The tenant might be paying rent, and may be even paying the rent after the foreclosure is finalized and not been notified that the landlord is no longer the owner of the property.

State and local laws regarding the foreclosure process and tenant eviction vary throughout the country. A report released last month,  "Without Just Cause: A 50-State Review of the (Lack of) Rights of Tenants in Foreclosure"  is posted at http://www.nlchp.org.

Seventeen states require that tenants receive notice when they’ll be evicted due to foreclosure. Twelve states require tenants be named as parties to foreclosure proceedings, in order to terminate tenancies or give the new owner immediate possession rights.

In New Jersey and the District of Columbia, a tenant’s lease can outlive a foreclosure, and tenants can continue to rent from the new owner of the property, often the bank, when a foreclosure is finalized. In nine states, the lease may be protected if it predated the mortgage.

Tenants should not assume that they must leave because the owner is being foreclosed upon. They should be aware, however, that they might be required to leave. Find out what the law is in your state.

 

Increases in homelessness around the country are becoming evident from the increased use of emergency shelters and food banks. Renters were not receiving much attention, even though they’re often at a greater risk for eviction due to foreclosure.

What happens when renters are forced to leave their homes without warning because of a building foreclosure? Renters who do no wrong shouldn’t pay the price of being evicted without the necessary time to make alternative living arrangements.

More than 20 percent of U.S. properties facing foreclosure are rentals, and renters make up about 40 percent of all families facing eviction, According to the National Low Income Housing Coalition.

When the foreclosure crisis began, people weren’t considering renters relief or rights. The National Law Center on Homelessness & Poverty wants national laws regarding renters’ rights when the property they’re living in goes into foreclosure, advocating a uniform standard that requires that tenants be given a minimum of 90 days notice so that they have an opportunity to find alternative housing and to protect tenants by allowing them to stay in their rental house for at least 90 days after a foreclosure.

Fannie Mae and Freddie Mac are implementing a National Real Estate Owned Rental Policy to allow renters living in foreclosed Fannie and Freddie-backed properties to stay in the home for a while.

Under the new policy, renters who are current on their rent would be offered a month-to-month lease at market rent. This way, the home stays occupied, which is beneficial to the upkeep of the property. Plus, renters have a smoother transition into finding a new place to live.

One of the stipulations is that Fannie Mae and Freddie Mac try to sell a property to reduce losses on the foreclosure. If the property is sold the lease would be terminated.

For some investors, buying a property that already has a tenant living there might actually be a selling point. In that case, the tenant might stay in the property and simply have a change in landlord.

Car and truck sales are tanking these days as consumer debt breaks the budget and rising gas prices sucks more out of disposable income. There's a big loss in value of a new vehicle as soon as it leaves

Gaia Online is a virtual space where you can meet people from around the world. Gaia Online, a popular interactive online hangout for teens and young adults, boasts more than 5 million unique visitors. Gaia Online is the best place

Instead of living paycheck to paycheck, many people are just living day to day, trying to get by on a lot less than they ever thought would be necessary. In contrast to politicians claims that the economy is still

Pinnacle PCTV HD Pro USB TV Stick for the PC is the size of a flash drive. The tuner is ideal for users looking for mobile TV viewing. Pinnacle announced two USB TV tuners, the PCTV HD Stick and the

CherryPal offers a new low power cloud computing that has no moving parts. The PC draws two watts of power and uses hardware encryption. The device features a 400MHz Freescale MPC5121e mobileGT processor and 256 MB DRAM, and 4GB NAND

How about an Orlando vacation? Yeah, maybe a little hackneyed if you've been there before and went to just Disney World. But that's not the only theme park, and theme parks are not the only reason to go to Orlando.

A Blackberry outage is apparently in progress this moment. Blackberry service has planned an outage for Sunday June 21, 22 at 2 am to 6 am Eastern but this outage seems related to an AT&T equipment failure. The Blackberry planned

Kristen Johnston has lost 60 pounds in the last 18 months. How did Kristen Johnston manage to lose that much weight? Can anyone have a weight loss plan like hers and lose weight the way Kristen did?  

Earlier today the Financial Times reported that Cerberus Corp. sold more than half its equity in Chrysler and GMAC.  Later in the day Cerberus Capital Management reported that it has not sold any of its stake in Chrysler or GMAC,

Amy Winehouse has emphysema according to her father. Amy Winehouse's father spoke publicly about his daughter's drug habit, its affect on her health, and career of the award winning singer. Amy Winehouse was rushed to hospital last week after