Runaway foreclosure numbers are impacting a new group of victims — renters. Across the country, a rising number of landlords are falling behind on mortgage payments, sending their properties into foreclosure. In many cases, their tenants are being forced out of their homes. Often, the tenants’ first notice of trouble occurs when they get a letter from the bank directing them to leave the premises. In many cases, the homes and apartments entering foreclosure are owned by investors who got low-rate teaser mortgages and intended to hold the buildings for a few years and then sell them at a profit — before their mortgage rates rose. Now, with the housing market badly depressed in many markets, the owners can’t sell the homes or afford the higher mortgage payments. Many are defaulting. Renting Your First Apartment (Consumer Books for College Students)

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