Benchmark Institute is a training and performance development
organization dedicated to increasing the quality and quantity of
legal services to low-income communities.
Hidden Impact: California Renters in the Foreclosure Crisis March 31,
This must-read report describes
the hardships endured by California renters in foreclosed properties and
proposes solutions. It outlines the typical foreclosure process in
California as it relates to renters and describes eleven major impacts
of foreclosures on renters to include being evicted without notice,
forced to live without utilities, and losing security deposits. Its
citation to code sections and strategies to deal with these problems
make this a great overview for practitioners on foreclosed tenant
April 15, 2009 - Renters Become Unwitting
Victims in Condominium Mortgage Scheme San Diego Union Tribune.
An individual lined up investors as “straw buyers” to purchase the
apartments turned-condos several years ago with the promise to transfer
them out of their names and pay them a fee. It seems that the investors
still own the units, the mortgages have not been paid, and renters are
April 8, 2009 -
Blogger Danilo Pelletiere: A Three Step Process for Seeing Renters in
the Recovery (National Housing Conference's (NHC) "Open House" blog)
The National Low Income Housing Coalition sees that policy makers
appear to be moving through three stages, not unlike the stages of
grief, as they come to accept the role of rental housing in the recovery
and in their communities.
April 6, 2009 -
California Foreclosures Jeopardize Renters as Banks Seize Homes
If the banks collected rent on the foreclosed 81,500 rental units in
California last year, they could have received over $1 billion in
revenue. Banks and mortgage lenders would rather flood the housing
market with vacant properties than act as landlords; banks do not have
the staff or infrastructure to handle rental buildings. Bank of America
spokes-woman said the company follows Freddie and Fannie policies on
their loans. Wells Fargo spokesman referring to a document released on
4-20-08, said the bank deals with renters on a case-by-case basis; it
doesn’t have a “summary eviction” policy.
April 7, 2009 -
homeless: Full-time workers The Manteca Bulletin.
Being evicted from foreclosed units is the leading cause of renter
homelessness in Manteca. Low-wage workers do not have the savings to
afford the security deposit on a new rental, particularly given the
short notice that many are given before being evicted.
March/April 2009 -
Renters In the Crosshairs
Read about City Life/Vida Urbana, a Boston-based social-justice
organization who scans foreclosure listings and then alerts tenants.
They host meetings with people at risk of eviction, provide assistance
and advice about negotiating with lenders, and organize demonstrations
outside banks. They also work with former owners who hope to renegotiate
their loans with the banks and keep renting out their properties.
“Tenants: Innocent Victims of the Nation’s Foreclosure Crisis.” The
Worst of Times: Perspectives on and Solutions for the Subprime Mortgage
Crisis. Albany Government Law Review, Vol. II, Issue 1. Albany, NY:
Albany Law School. (PDF)
This article provides an overview of the way in which foreclosures
affects renters. It includes sections analyzing the scope of the
problem, tenants’ rights, varying levels of state protection, etc., and
is an invaluable overview of the topic.