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Renters Victims Of Foreclosure, Too
POSTED: 3:35 pm MST December 23,
2008
UPDATED: 3:55 pm MST December 23,
2008
PHOENIX -- Foreclosure notices are popping up at a record pace all over Maricopa County, but those in danger of losing their homes aren't just people who got in over their heads or didn't pay their bills.Some renters who have faithfully paid their rent are getting evicted."The tenants are paying their rents, and the landlords aren't paying their mortgage, (so the tenants are) getting these eviction notices," said real estate expert Dave Madam.Madam started RentalForeclosure.com, a Web site that allows renters to see if their homes are in danger of foreclosure. The site received 400,000 hits last month alone.
Of the 57,000 foreclosures in Maricopa County so far this year, nearly 20,000 were rental properties."It's really devastating because these families have to rent trucks, get moving boxes, get school children relocated at a moment's notice," Madam said.Matt Tomten and his roommate Jasmine Huntley are two renters who have to move this holiday season -- and even though they are being evicted, they still must pay their rent until Jan. 5.If they stop paying their rent now, the property management company can sue them; if they pay their rent until the house forecloses, they can sue the property owner -- who might not have any money left.Theoretically, the landlord in such situations is liable for all expenses associated with finding a new place to live; however, the only way tenants can get their money is to sue the landlord.Huntley said with a new lease at a new house, utility hookup fees and moving expenses, this ordeal is costing them $3,000."We feel betrayed … and for what?" she said. "They're going to have a Christmas. They're going to have their homes. We're not."
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