Renters finally the focus in the mortgage industry problems...

To some of us it was a logically conclusion that renters are also being hard hit by the problems with the mortgage industry and the high amount of foreclosures, in part as is shared in this New York Times piece, As Owners Feel Mortgage Pain, So Do Renters points out that renters are losing their homes when the owner is foreclosed on. There is an additional factor that this is creating a scenario where rental properties are harder to find at a decent price since the landlord needs to increase the rent to make a higher amount to be able to pay a mortgage. Especially those that were able to convert over to a different mortgage to try to get out of an ARM.