Monday, March 29, 2010

McGuire’s foreclosure rescue bill passes House

STATE CAPITOL, PHOENIX – A bill in House Democrats’ Foreclosure Rescue for Arizona package passed the House today with a bipartisan vote.

House Bill 2766, sponsored by Rep. Barbara McGuire, D-Kearny (District 23), requires a landlord to allow a tenant at least 30 days to vacate a foreclosed property.

“This bill will help Arizona get back on the right track when our state ranked second in the nation for foreclosures,” McGuire said. “It gives families and renters enough time to find a new home at a time of foreclosure through no fault of their own.”

McGuire’s bill also requires a landlord to provide tenants with a written notice at least 90 days before the sale date and if the landlord fails to comply, the tenant may recover damages or one month’s rent plus the amount of the security deposit and attorney fees, which ever is greater.
“All of us have a financial interest in restoring property values, repairing neighborhoods and putting Arizona back on the right track,” McGuire said. “We can all benefit from these bills and working together, and that’s a winning combination for Arizona’s economy and quality of life.”

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