"Protecting Tenants in Foreclosure Act,"

Protecting Tenants in Foreclosure

The "Protecting Tenants in Foreclosure Act," became law on May 20. The law will:
• Give all renters in properties that are foreclosed after May 20 at least 90 days notice before having to move. In most cases, tenants will be allowed to reside in the home through the end of the lease term.

• Give tenants with section 8 vouchers the same rights to remain as other tenants. The new owner at foreclosure (typically the mortgage lender) will automatically become a party to the Section 8 contract, enabling families to retain their rental assistance and to continue to afford their housing.