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Renters: You have rights if your landlord faces foreclosure

Posted by: VHFA on February 18, 2010 - 9:06am

vtiRent an apartment? Landlord losing the property to foreclosure? Think you have to move? Think again.

If you have a valid lease and have been paying your rent, the law says the new owner of the property most likely must honor the term of your lease. If you're renting month-to-month, you're owed 90 days' notice before you have to move out.

These protections are guaranteed under the Protecting Tenants at Foreclosure Act passed by Congress last May.

Still, some renters have faced bullying by ill-informed — or less-than-scrupulous — property managers and the like. (Read this story from CNN: "Your landlord got foreclosed. Do you have to go?")

Know your rights. And if you need help, turn to Vermont Tenants Inc. The Burlington organization provides free direct services to tenants including advice, advocacy and referrals.