Tenants' rights promoted in Mo. bills

Associated Press - March 18, 2009 2:14 PM ET

ST. LOUIS (AP) - Missouri renters are finding they have few rights and little notice when their dwellings are foreclosed on.
So, advocates are pushing for legislation that would give them more time to leave a foreclosed property.
Bankers estimate that one in five foreclosures are rental properties. In St. Louis alone, hundreds of renters may have been booted.
Two bills in the Missouri House and another in the Senate would change the way foreclosure notice is given, or even institute a waiting period for a new owner to evict prior tenants.
Missouri law now only requires the mortgage holder to notify the property owner - but not renters - 20 days before a foreclosure sale. Once the property is sold, the previous lease is void and the new owner (most often a bank) can file in court immediately for eviction.

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