Thursday, February 14, 2008

Renters Suffering In Mortgage Crisis

This situation is something that never crossed my mind but once your attention is drawn to it it becomes patently obvious, nobody is immune to bad decision making and when a landlord finds himself in the mire the tenant ends up in it as well. Neck deep when you read some of the accounts given below.

SEATTLE (Reuters) - As the U.S. mortgage crisis forces more properties into foreclosure, even renters are feeling the pain.

When a landlord cannot pay the mortgage, tenants can face eviction, financial loss and pressure tactics from new owners who want them to move out. And some are ending up homeless.

Teacher Stuart Briggs was plunged into a nightmare when lenders foreclosed on his landlord last year: Utilities were cut off and he endured months with no lights or working toilets.more

No comments: