This can be a very stressful situation there is protection. I did some research and this can help
On May 20, 2009, President Obama signed into law the Protecting Tenants in Foreclosure Act.
- This federal law requires that new owners of foreclosed residences allow tenants to remain in the property for at least 90 days after the foreclosure sale.
- Please note that this law protects all bona fide renters of residential units, even those that do not have a written lease.
- If the tenant has a written lease that expires more than 90 days after the foreclosure sale, the tenant can remain in the property until the end of the lease.
- The only exception is if the new owner wants to live in the property him/herself – but the tenant still has a right to stay for 90 days from the date of the sale.
- The Terms of your Lease still apply. Including the RENT PAYMENTS.
It is critical that you are in contact with your Landlord and coordinate based on the intentions.
