It's estimated there'll be one million home foreclosures in America this year. The unseen victims in the foreclosure crisis are renters. Even though a tenant pays their rent, if the owner doesn't pay the mortgage the consequences can turn the renter's life upside down.
A family renting a house in Kirkwood contacted News 4 after getting a letter stating the house they were renting was in foreclosure and would be sold in September. We did some checking and found renters have rights.
The new owner of a foreclosed propery can't kick out the renters the day after the purchase. A 2009 federal law requires the new owner to give at least a 90 day notice. If the new owner doesn't plan to live in the house they're required to let the tenants live in the house through the end of the lease, if it's longer than 90 days.