Projo Biz Blog

Rhode Island General Treasurer Frank Caprio and state housing officials today announced that they are supporting legislation to protect the growing number of renters who are being forced out of their homes due to foreclosures.

The proposed bill would require lenders to inform tenants when a property is being put up for foreclosure auction, Caprio said, and notify them, in writing, at least 60 days prior to eviction.

"People who have paid their rent on time and been good tenants should not be forced out because of a foreclosure they had nothing to do with,'' Caprio said. "This legislation will provide basic protections to those who have done nothing wrong and are simply trying to find a decent place to live."

Rhode Island Housing reports that 386 multi-family houses in Rhode Island fell into foreclosure during September, October, November and December

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