Lenders to Trick Tenants Out of Their Rights Next

It should come as no surprise that the industry who created and pushed complex and risky loan products to American homeowners have even less regard for tenants who are victims of foreclosure.  As explained more here, Congress and President Obama enacted the “Protecting Tenants at Foreclosure Act” in May 2009 which entitles a tenant to continue leasing from the new owner of the property after a foreclosure sale until the lease expires on its own, or 90 days (whichever is longer).  The only exception is if the new owner intends to occupy the property as his primary residence.

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