Foreclosure Evictions Resulting In "Tidal Wave Of Displaced Tenants" In Southern California

In Southern California, The Orange County Register reports:

• [W]hat began as a trickle last year is rapidly turning into a tidal wave of displaced tenants as Orange County foreclosures hit new records. [...] Brenda Magana, a housing specialist at the Fair Housing Council of Orange County, says the problem is snowballing. "Last year we were seeing three or four tenants (facing foreclosure) a month," she says. "Now we're seeing three or four a day."

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• [California] Tenants do have some rights in these cases. A lender who foreclosed cannot require a tenant to move within 72 hours, say[s local real estate attorney Jon] Janecek. That three-day notice only applies to the former property owner. [California] Tenants must get at least 30 days to move.

• Don Readinger, a broker and manager of two South County real estate offices and who manages 100 rental properties, says the biggest problem is with out-of-state lenders who don't know the 30-day notice requirement under California law. "They try to intimidate the existing tenants," says Readinger, who is president of the Orange County Association of Realtors.

For more, see House/condo renters latest victims of foreclosure crisis (People renting homes, condos and townhouses find themselves out on the street after the owners fail to pay the mortgage).

For other posts involving the problems tenants face in homes in foreclosure, go here, go here, go here, go here, go here, and go here. equity skimming unwittingly digamma