Foreclosure Frustration Hitting Renters Throughout South Florida

In Miami, Florida, CBS4 reports:

• When Tamara Rutter moved into her new downtown apartment, she couldn't wait. "We we're so excited," said Rutter. "It was our first place together." But things quickly changed with a knock on her door. "She handed me over a huge stack of papers and said you are being foreclosed on," said Rutter. Tamara may have seen it coming if she owned a condo, but she rents. It was shocking for her.

• What happened to her is happening across South Florida. Despite rents paid on time, landlords can't afford the mortgage, often double what they are renting for. Tamara had 60 days to move out while they foreclosed. She held back rent, in essence getting her deposit back.

For more, see Renters Beware, Foreclosures May Affect You Too. To watch the CBS4 video coverage, see Foreclosures: Not Even Tenants Are Safe.

For other posts involving rent skimming landlords who pocket rent and allow homes to go into foreclosure, see Tenants Unwittingly Renting Homes In Foreclosure I , II , III , and IV.

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