A pair of Democrats has introduced legislation to renew a law making sure renters living in foreclosed properties aren’t immediately evicted.
The bill, authored by Rep. Keith Ellison (D-Minn.) and Sen. Richard Blumenthal (D-Conn.), extends the 2009 Protecting Tenants at Foreclosure Act that expired at the end of last year.
{mosads}Under the law, most tenants had at least 90 days after the foreclosure or the remainder of their lease to move out. But without it in place, tenants whose landlords fall behind on mortgage payments have just a few days’ notice to find a home elsewhere. The legislation would make the expired law permanent.
Blumenthal and Ellison say renters unaware that the landlord hasn’t been on top of mortgage payments shouldn’t have to pay the price.
“When a building owner falls into foreclosure, people who live in the property may be forced out — even if they’ve paid their rent in full and on time,” Ellison said.
Both argued that people who aren’t responsible for the foreclosure shouldn’t have to face homelessness.
“As a matter of common sense and basic fairness, families should be spared life on the street when landlords shirk their obligations,” Blumenthal said.