There was an article in the Houston Chronicle a few weeks ago. In the past if a landlord's property was foreclosed on, the tenant had no rights when the lender took back the property. A new law pertaining to this is now attached to Obama's housing bill. Below is a piece of the article from the Houston Chronicle on May 25, 2009.
Buried in a housing law signed last week by President Barack Obama are protections that will help thousands of renters stay in their homes - at least for a while - after their landlords have been foreclosed on. The law allows tenants to remain in their foreclosed rentals through the end of their leases and then 90 days after that before being forced to vacate by lenders. Renters without leases will have 90 days, a big improvement over what most received before: almost no notice at all.
For the entire article go to: http://www.chron.com/CDA/archives/archive.mpl?id=2009_4743760
Information is provided by Amy Rocka of Keller Williams Realty Northeast. Whether you want to buy or sell a home, visit my website www.AmyRocka.com for more information about the real estate services provided.
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