Finally, Great News For Renters

People who choose to rent do so for many reasons. For some it is a need, as they may have a career that requires them to travel a few months at a time to work in one city for a few months, then another for a few more months. For others, it is because they want the luxury of living in a house versus an apartment but they are just not ready to buy a home of their own yet. Whatever the reason, rents do not have the responsibilities of being a home owner. Yet in many cases they are being forced to deal with the responsibilities of a mortgage.

For many years, renters have dealt with immediate evictions from the homes they are renting – and not because they didn’t pay their rent. Countless renters have been put out on the street at only a moment’s notice because the owner of the home they rent from has not paid the mortgage and is in foreclosure. Once in foreclosure, the bank that holds the mortgage takes over ownership of the home. The new ownership changes the rules, including that of the renter. But no more.

Thanks to Title VII – Protecting Tenants at Foreclosing Act, tenants no longer have to worry about ‘get out now’ notices. They are now given a 90-day period to make other living arrangements. This is great news! Although this has always gone on, with the mortgage crisis in this country countless renters have found themselves out in the street with nowhere to go, scratching their heads. Many had faithfully paid their rent and had no idea an eviction was coming. Many have lost some of the rent money they paid as some of these home owners in foreclosure just pocketed the money. But those days are over. More details please

While renters may or may not be able to get any rent money back, the fact that they will no longer be kicked out into the streets without notice is a reason for all to stand up and cheer. Many renters are full families with infants and other children. It’s not just the adults affected in these cases. School children have had to change schools immediately, causing great emotional and psychological damage. The adults have had to change jobs and/or move in with and impose on other family or friends. It has been a snowball effect that has been nothing but negative.

APAT Real Estate Settlement Services, a progressive mobile notary company of signing agents, including eSigning Notaries, works hard to keep clients and consumers informed of industry news and trends. You can view of copy of Title VII – Protecting Tenants at Foreclosing Act online.

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