RealtyTrac, Irvine, Calif., is launching a new service called RealtyTrac Renter Alert, which gives tenants advance notice when the property they are renting enters into default or is about to be foreclosed by a lender. Over 30% of homes where the mortgagor has defaulted or the property has gone into foreclosure are not owned by the occupant. Thus, hundreds of thousands of renters are at risk of being evicted, even though many have never missed a rent payment. The new monitoring service sends e-mail alerts to subscribers warning them immediately of any foreclosure activity on a specific property. For more information, visit www.realtytrac.com.
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