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Friday, May 8, 2009

NYC Foreclosure Vic Tenants To Get Protection

BY Frank Lombardi
Hundreds of tenants across the city face eviction each month because they've become fallout victims of the mortgage foreclosure crisis.
These particular endangered tenants live in one- to four-family homes - usually in the more financially strapped neighborhoods - that have been foreclosed because their property owners defaulted on their mortgages.
Under state law, banks that take over the properties don't have to notify tenants their properties have been foreclosed on, and they can be told to leave in 10 days or face an eviction suit.
"These are people who paid their rent on time, played by the rules, maintained these properties - and one day they wake up and a marshal is at their door ready to evict them," said State Sen. Jeff Klein at a City Hall press conference yesterday with several City Council members and housing activists.
The group gathered to press for passage in Albany of a Klein-sponsored bill that would force banks and other lenders to alert tenants that their homes have been foreclosed on, and give them as long as 90 days to find housing.

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