Fri
Creepy tenants become squatters in foreclosed home
Posted by Marlow Harris under Real Estate
1 Comment
This is just one story in the naked city, but I imagine this kind of thing takes place all over the U.S.. In “Home Free: Foreclosure Crisis Benefits at Least One Group: Renters“, writer Dominic Holden interviews a group of users who quit paying rent and now have lived in their foreclosed home for free for almost a year.
I have had a number of clients come to me saying they were tricked into their lease by a landlord about to go into foreclosure. The landlord collected first, last and security up front, and then the foreclosure was filed after the tenant moved in. Landlord disappears, and never returns a call and pockets the money. Tenant, if interested, can probably stay for 6-9 months before foreclosure, but stressful situation for tenant.