South Florida Bankruptcy Lawyer

by Bankruptcy Attorney Eric Klein

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Renters Suffering from Foreclosure Crisis

May 23rd, 2008 · No Comments

More and more throughout Florida and the rest of the country, renters are being evicted with little to no notice after the house or condo they’re renting has been foreclosed.

Fortunately, there are legal options for renters if this happens. If a landlord fails to pay his or her mortgage, the renter has the ability to get the courts involved. Once the courts are involved, the rent can be pulled away from the landlord and re-directed to the tenant. This pretty much stops foreclosure in its tracks.

In addition, renters have the same option whenever a landlord fails to pay a utility bill which results in that utility being shut off.

Lenders, reportedly, have been being sympathetic. There have been reports of some lenders giving current renters days or even weeks to find new housing. It’s become known as “cash for keys”.

If you are considering filing for bankruptcy, contact the South Florida bankruptcy lawyers of Klein Attorneys at 561-353-2500 to discuss your situation and what bankruptcy entails.

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