In a sign of the times, Irvine-based RealtyTrac, a provider of information on real estate foreclosures, has launched a service which helps rental tenants determine if their landlord is about to be foreclosed on. According to RealtyTrac, it has rolled out a new service called RealtyTrac Renter Alerts, which will let tenants avoid an unexpected eviction if their landlord falls into foreclosure. RealtyTrac said it will charge $24.95 a year for tenants who are worried about their landlords, and will email those renters as soon as they see any foreclosure activity on a property. The recent spike in foreclosures and meltdown in the real estate market has affected a number of renters, who are surprised when banks post a trustee's notice on the door, order those renters out, or initiate eviction proceedings due to their landlord's inability to pay their mortgage.
Top NewsWednesday, April 1, 2009
RealtyTrac Looks To Rental Market With New Service