This report shows some disturbing videos about no notice evictions, evictions that take place with as little as 25 minutes notice. The crime here is that often the units are rented out to paying tenants who know nothing about the foreclosure or the upcoming eviction:
I disagree with the term “pro growth policies”. I would rather say that policies of credit expansion are anti-growth. Regarding no notice evictions: Such a practice is theft . tenants are being deprived of housing which they paid for responsibly and are contractually entitled to. And what an incredibly stupid practice from banks’ perspective to vacate occupied units in this market!
Recently President Obama put an end to such theft by signing a Federal law protecting renters after foreclosure:
A new law passed by Congress and signed yesterday by President Obama provides protections for tenants whose landlords fall into foreclosure. Under the Helping Families Save Their Homes Act, tenants have the right to stay in their homes after foreclosure for 90 days or through the term of their lease. The bill also provides similar protections to housing voucher holders. The protections go into effect immediately and expire at the end of 2012.
… a decent move among a lot of insanity.