Sunday, November 25, 2007

Rent Skimming Problems In Minnesota

KTTC-TV (Rochester, Minnesota) reports on the local problems of financially overextended landlords pocketing tenant rentals while stiffing the mortgage holder out of its monthly mortgage payments:
  • Mona Hoeft with Olmsted County Housing and Redevelopment Authority says they receive tons of calls from families being tossed out on the streets including those receiving government subsidies. "Unfortunately there's not much a tenant can do other than move. There really is no protection for the tenant," says Hoeft. "It's frustrating for us to know we are paying money really for nothing. So the landlord can take that money we are paying them and use it for something besides paying the mortgage," says Hoeft.

For more, see Renters Rights. equity skimming unwittingly gamma