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Renter Notifications of Default

April 2, 2009
I love this! Not sure if all tenants would spend the money to check on their landlord but, in certain areas – it’s gotta be a killer.

RealtyTrac Launches Renter Alerts

Carrie Bay | 04.01.09

On Wednesday, online foreclosure marketplace RealtyTrac announced the launch of RealtyTrac Renter Alerts. The new monitoring service gives tenants advance notice if their landlord defaults on the mortgage and the property they are renting is about to be foreclosed and repossessed by the lender.

Rick Sharga, SVP of the Irvine, California-based company, explained, “Unexpected evictions are becoming an all-too familiar scenario for good tenants who pay their rent on time. Some landlords aren’t paying their mortgages — even while their tenants are paying their rent faithfully — causing the tenants to be evicted without warning. Our new renter alerts give tenants a good early warning system to avoid this unpleasant and unfair scenario.”

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