|Sunday, September 18, 2011||(Comment)|
Can banks really evict tenants?
... Even more iniquitous than full-recourse mortgages is the practice of evicting tenants when their landlords default... If you are a lender repossessing a rental property, you should have to honour the rental contract. If you sell the property, you should have to sell it subject to the rental contract...
In the mean time, if you are a tenant being evicted because your landlord has defaulted on the mortgage, you might try telling the lender that you are considering a lawsuit and/or private criminal prosecution against the lender for being an accessory to the landlord's insolvent trading. You might be able to extract a very favourable rental deal in return for dropping that threat.
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