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The Impact of Foreclosure Proceedings on Residential Tenants

By Raun J. Rasmussen

During foreclosure proceedings and after foreclosure sales in which they acquire ownership in the property, banks and other mortgagees attempt to escape responsibility for managing the residential properties to the detriment of the tenants. They often refuse to make repairs until after they have purchased the property and refuse to follow state summary proceedings and rent-regulation laws. This article describes the strategies that tenant advocates in New York, Massachusetts, and New Jersey have used to compel these banks to comply with state and local housing procedures.

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