Ever since the foreclosure and housing crisis hit, there have been a lot of creative ideas about how to minimize the impact it has on communities. This is a different issue from that of the debt incurred by the people who took out the mortgages, or the fraud committed by the people who marketed the mortgages. The issue here is what foreclosed homes do the the neighborhoods they're in.
One idea, which has been bandied about for a long time, is to allow people who get foreclosed upon to continue renting the house they once owned. Rep. Raul Grijalva, Chair of the House Progressive Caucus, would see that idea made law.
Just another great idea from Democrats in the House of Representatives, who have been, by far, the most enthusiastic and stalwart defenders of Americans' interests over the past five years.
(With a tip-o-the-hat to David Waldman.)
6 comments:
It's good to know our rights to rent. Thanks a lot for sharing that information.
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Live up to your rights. I like the idea of allowing people who get foreclosed upon to continue renting the house they once owned.
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The Democrats would definitely get more applause for this advocacy. This is indeed very beneficial for people who got their houses foreclosed.
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The House Democrats made another big step to help families encountering problems about foreclosures.
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We all have rights. Knowing them can be an advantage. Such an advocacy is great for people who got their houses foreclosed. A good move indeed.
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There's such a thing as "strategic foreclosure" in which some people use this as a leverage for lighter monthly payments.
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