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New Los Angeles Ordinance Prohibits All Foreclosure Evictions Until Property Is Sold To New Owner

By r morris

In Los Angeles, California, CBS2 reports: Renters whose residences have gone into foreclosure cannot be evicted until the property is sold to a new owner under a city law signed Friday by [Los Angeles] Mayor Antonio Villaraigosa. The one-year ordinance, spearheaded by Council President Eric Garcetti, will impact 300,000 apartment buildings and single-family homes. [...] Renters [in Los Angeles]

Full post as published by The Home Equity Theft Reporter on December 21, 2008 (boomark / email).