Renters are discovering that the home they may have enjoyed for many months or years may be lost to foreclosure or short sale. If a renter discovers that a home owner stopped making payments and then loses the home to foreclosure, there are laws in place to assist a renter to find another home. If the property is being lost through a short sale process, then the home owner is working with the bank and hopefully the renter in cooperative way. No one wants to go through a foreclosure or short sale process, these are instances when no other options are available.
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Short Sales and Tenancy
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