Transcription of Protecting Tenants at Foreclosure - Federal …
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Protecting Tenants at Foreclosure - Federal …
Protecting Tenants at ForeclosureBackgroundThe Protecting Tenants at Foreclosure Act of 20091became effective on May 20, 2009. This new lawprotects Tenants from immediate eviction by per-sons or entities that become owners of residentialproperty through the Foreclosure process andextends additional protections for Tenants with of Housing an dUrban DevelopmentSection 8 law is self-executing; nofederal agency has authority to issue regulationsimplementing the law or to interpret the law. Thelaw expires on December 31, fundamental purpose of the ProtectingTenants at Foreclosure Act is to ensure that tenantsfacing eviction from a foreclose dproperty haveadequate time to find alternative housing. To thatend, the law establishes a minimum time periodthat a tenant can remain in a foreclose dpropertybefore eviction.
Protecting Tenants at Foreclosure Examination Objectives and Procedures EXAMINATION OBJECTIVES 1.To assess the institution’s awareness of its ...
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