Tenants Rights. Roswell, Do You Know Yours?

I keep hearing these horrible stories of people who are renting a home and making their rental payments to their landlord in a timely manner.  Then, the tenant learns that the landlord hasn’t been paying the underlying mortgage on the home they’re renting.  Most likely, the rental payments went towards another obligation owed by the owner of the home.  Foreclosure ensues and you’d think that the tenant is out of luck, right?  So wrong!  Tenants have rights, and in this situation, if the tenant can show the foreclosing bank a copy of the lease and proof of their timely rental payments, the bank must honor the current lease.

There have been cases where the tenant has been threatened with legal action by the foreclosing bank.  Yes, this would be intimidating given the bank has a staff of lawyers and deep pockets.  But there are tenant advocacy groups who can suggest what to do in these cases.  They can fight for you and what’s right.