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Foreclosure Protection

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The Daily Journal's Peter B. Matuszak reports that the City Council is considering a motion that would protect renters from being tossed out when properties are foreclosed upon. According to the Journal, the current protections only apply to properties that fall under the rent stabilization ordinance. "A spokesperson for Garcetti's office [who sponsored the bill] said the move was prompted by several complaints that Countrywide Financial had pressured renters in good standing who live in foreclosed apartments to move out, "or wait for the Sheriff's Department to show up." His staff was also quick to point out that the move was not an attempt to expand rent control, but merely to protect responsible renters from facing evictions through no fault of their own." [Daily Journal, (not online) ]