The shock is over, when reading or hearing about renters getting the surprise of their lives in the form of a foreclosure notice. A recent Daily Business Review article indicates that this scenario is becoming more common in South Florida multifamily industry. A Hialeah single mom is the subject in the story published earlier this week that describes her struggle to find a new place to rent as she is forced out of what was typically a safe bet for renters.
Her landlord like so many other smaller investors, collected rent while defaulting on his mortgage -creating a devastating dilemma for the residents.
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