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IF YOU RENT YOU NEED TO KNOW "Protecting Tenants at Foreclosure Act". Protecting Tenants at Foreclosure Act. This act was passed by both US Houses and President Obama signed into law May 2009 . Public Law 111-22. Go to http://gov.com search for Protecting Tenants at Foreclosure Act. Source Linda Couch Senior VP for policy & research low income housing coalition Washington DC. Renters are being punished, renters pay the monthly rent, while property owners do not pay the mortgage. Below is a short version: The law states that a renter can stay minimum of 90 days or until the lease run's out. After the new owner takes control. However, if the new owner plans on living in the home , the renter has 90 days to move reguardless of the terms of the lease. Keep in mind you still must pay the rent and be a bona fied tenant. This law expires end of 2014. US Rep. Keith Ellison D-Minn. Introduced HR-3619 in Dec. 2011 to make this law permanent. Allowing renters to prevail in civil action against property owners. If in dought of your right's as a renter contact your lawyer and take a copy of "Protecting Tenants at Foreclosure Act". with you. I have found out through social media that very few people know about this law. That includes Law Enforcement, Realtors, Mortgage lenders, Property owners & most of all Renter's. Just keeping you informed Eddie Laws Realtor @ Crye-Leike Champion Real Estate Group Searcy, Ar. |