Bailouts

Help for Tenants

Posted on Sunday, October 11, 2009

May 20, 2009 President Obama singed the Helping Families Save their Homes Act of 2009 which included some tenant protections. The Act requires 90 day notice before a lender can evict a tenant from a foreclosed property and that leases be honored until the end of their term. This applies to all foreclosures after May 20, 2009 and in cases where there is a lease, rent is paid on time and the new buyer does not plan to occupy the property as a primary residence.


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