Summary of the “Protecting Tenants at Foreclosure” Act
Real estate investors seeking to purchase properties through foreclosure should be aware of the Protecting Tenants at Foreclosure Act (PTFA) (12 USC 5220). The PFTA is a federal law that provides safeguards for tenants facing eviction from rented properties subject to foreclosure. Before enactment of the PTFA most renters, including those with existing leases…