With a vigorous real estate sales market, far fewer properties are in foreclosure than during the “real estate bust” of ten years ago.  However, there are always situations that can render homeowners unable to service their mortgage debt.  When the property is occupied by tenants, there are practical and legal considerations regarding the impact of a foreclosure.

On May 24, 2018 the “Protecting Tenants at Foreclosure Act” (PTFA) of 2009 was revived as part of a larger piece of legislation (the Dodd-Frank Amendments) after expiring in 2014.  The Act is designed to provide a buffer for tenants who live in property, pay rent as promised, and through no fault of their own become impacted by the landlord’s inability to service the mortgage. 

Prior to