Metro Phoenix Foreclosures Hammering Tenants

In Metro Phoenix, Arizona, the East Valley Tribune reports:

• The rising number of foreclosures in the Valley isn’t just hurting property owners — it’s also pinching hundreds of renters who are being forced out when the properties go back to the bank. Ken Volk, president and founder of Arizona Tenants Advocates in Tempe, said he’s getting dozens of calls from renters asking if it’s illegal for landlords to break a lease because of foreclosure. No exact number of displaced tenants were available, but Volk estimated it might be thousands of people across the Valley.

For more, see Increase in foreclosures taking toll on renters.

See also, Record foreclosures hurt Valley apartment renters.

For other stories on tenants unknowingly renting homes in foreclosure, go here, or here, or here.

Editor's Note: As the tenants are forced out, the foreclosing lenders must be vigilant in keeping the squatters, drug dealers, and copper thieves from moving in. equity skimming unwittingly delta