So you are home from work relaxing watching re-runs of Friends and suddenly your front door is kicked open and a big burly man with a gun comes in, points the gun at you and claims that he’s the sheriff.
Sound like something out of the show COPS or maybe a move starring Johnny Depp, but no, it’s actually becoming a common occurence in homes all over Georgia.
What was happening is that individual would rent homes from landlords. The renters would ay on time, but the landlord might not pay the mortgage. Instead opting to keep the money or pay his own mortgage bill.
Now S. 896 “Helping Families Save Their Homes Act of 2009″ has come out and has some provisions to protect tenants from eveiction as a consequence of a foreclosure.
So what’s in it for the tenants?
- 90 Days Notice will now have to be given before proceeding,
- Tenants with WRITTEN AGREEMENTS will be given the option to stay in the property as long as the lease is not significantly different than current market rent.
Tenants still have to move out in the case of the new owner wanting to use the home as a personal residence or if there is no written lease agreement.
Tenants still can be evicted in the event they violate their written lease agreement.
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