Professor Mark Edwards from Concurring Opinions, a law-related blog, posted this article titled Evicting the Blameless Tenant. His article describes the unfortunate practice of evicting renters and other tenants.

My brother recently had this experience. He works as an engineer in the mining industry, and moved from one location in southern California, to another plant in northwestern Nevada. He and his wife planned on renting a home in the new city, and eventually found one they liked. They moved their family to the new location, unpacked some of the boxes and other materials, and were notified shortly afterward that the home they’d rented was in foreclosure. The fortunate thing for my brother and his family is they’re able to afford, and rent a new home until they can purchase or build another.

Unfortunately for many, as Mr. Edwards notes, there may be few other options. Mr. Edwards notes that the tenants are consistently paying rent and maintaining their obligations, but end up living on the street or quickly finding a less-than-adequate replacement home.

Mr. Edwards eloquently evaluates both sides of the argument, and I happen to agree with his end philosophy or statement:

Lenders should accept the risk that they may end up managing the rental properties they finance, if they do so unwisely.