200,000 California Tenants Suffer From Foreclosure
Here's a scary number: Over 200,000 California tenants are directly affected by the rise in foreclosures. A report released yesterday -- "California Tenants in the Foreclosure Crisis" -- says that at least 37% of residential units in foreclosure in California were rentals, while the largest percentage of foreclosures were single-family homes.
The unfair and unnecessary displacement of tenants at the hands of banks is affecting communities across the state on a devastating scale.These tenants are the hidden victims of the foreclosure crisis which they did not have a hand in creating. Most of the blame goes to bad home loans from shady financial institutions.