200,000 California Tenants Suffer From Foreclosure
Posted by Harmon Leon on May 19th, 2010 Rented Spaces
Here's a scary number: Over 200,000 California tenants are directly affected by the rise in foreclosures. A report released yesterday -- "California Tenants in the Foreclosure Crisis"
-- says that at least 37% of residential units in foreclosure in
California were rentals, while the largest percentage of foreclosures
were single-family homes.
The unfair and unnecessary displacement of tenants at the hands of
banks is affecting communities across the state on a devastating
scale.These tenants are the hidden victims of the foreclosure crisis
which they did not have a hand in creating. Most of the blame goes to
bad home loans from shady financial institutions.
Like putting a Band-Aid on an amputation, a new federal law increases
the eviction notice period to 90 days. While this is a step in the
right direction, it does nothing to provide longterm security for
tenants during the housing crisis.
One bright side is the organization called Tenants Together.
The group not only reports on the human impact of the foreclosure
crisis but also operates California's only hotline for tenants in
foreclosure situations. Californians caught in this bind can call the
Tenant Foreclosure Hotline toll free at 1-888-495-8020 or start the
query process online at www.tenantstogether.org/hotlineintake.
FAIR USE NOTICE. This
document may contain copyrighted material the use of which may not have been
specifically authorized by the copyright owner. Tenants Together is making this
article available on our website in an effort to advance the understanding of
tenant rights issues in California. We believe that this constitutes a 'fair
use' of any such copyrighted material as provided for in section 107 of the
U.S. Copyright Law. If you wish to use this copyrighted material for purposes
of your own that go beyond 'fair use,' you must obtain permission from the
copyright owner.
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