WASHINGTON–U.S. Rep. Keith Ellison, D-Minn., introduced renter protection legislation called the Protecting Tenants at Foreclosure Act of 2009.
WASHINGTON–U.S. Rep. Keith Ellison, D-Minn., introduced renter protection legislation called the Protecting Tenants at Foreclosure Act of 2009.
A recent report by researchers at Credit Suisse, an international investment bank, estimates that 16 percent of all mortgages will enter into foreclosure within the next four years. In Hennepin County, foreclosures increased by 32 percent just this past year.
“The wave of Minnesota homes foreclosed on these past two years has devastated our families and our communities. However, an untold consequence of this crisis is what happens to families who rent properties foreclosed on,” Ellison said.
Sadly, since state and local laws often don’t provide basic protections, many tenants in foreclosed properties can be evicted without notice. In fact, according to a recent report by the National Law Center on Homelessness and Poverty, only 17 states require that renters receive notice in such circumstances, while only 12 require that tenants be named as parties to foreclosure proceedings before their lease is terminated. In Minnesota, a two-month notice period is required.
“It is simply wrong when hardworking families who have played by the rules are being kicked out of their homes without any warning. Although they were not the ones who caused the current crisis, they are suffering the consequences by being treated as collateral damage. This is unacceptable,” the 5th District Congressman stated.
Ellison’s bill would address this problem by creating a uniform federal standard to protect tenants in foreclosed properties. Specifically, it would provide tenants with a 90-day notice prior to eviction. This coverage would also extend to tenants who receive Section 8 public housing assistance. Importantly, the bill would not preempt more expansive protections provided under state or local laws.
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