If a landlord is facing foreclosure, renters could easily end up on the street as well.
There were 223,538 foreclosure filings in September 2007, up almost 99 percent from the year before, according to figures from RealtyTrac, a company that tracks foreclosure activity. And it's not just borrowers losing their personal homes -- in many cases lenders are foreclosing on rental properties. Because lenders are not usually interested in managing rental properties, tenants are finding themselves displaced in the process. If you have clients or know of anyone that could possibly be in this kind of situation inform them of this knowledge.
Have a good weekend and Thanks to all for reading!!!
Gary Urich
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