The Very Dark Side: Evicting tenants from foreclosed apartments
Evicting "unwanted" residential tenants is a tough, tough subject. This piece by Mark Edwards at Concurring Opinions is worth reading.
There is a "human element" in these tough times, which Mark terms as the tension between legality and social responsibility.
It is a topic that is much discussed in workouts involving apartments. Indeed, it is the point where the lender (or servicer) shifts from viewing it as a "project collateral" (the lender perspective) and starts to understand it as an "apartment community" (the owner\investor perspective).
Often, we expand the workout team to include community relationship people, including governmental relationship people for the lender.
Please give us your questions, thoughts or suggestions on this subject by posting a comment.
