Amendment to Helping Families Save Their Homes Act of 2009

This amendment creates important protections for tenants residing in foreclosed properties. Renters constitute 40% of all households who lose their homes due to foreclosure.[1] Previously, renters in most states received little or no notice that they had to move when their building went into foreclosure.[2] To remedy this situation for tenants in foreclosed homes, this amendment:

• Provides tenants at least 90 days notice before they must move.[3]
• Allows tenants with leases to remain in their homes for the terms of their leases. If a property is purchased by someone who intends to live in it, the tenant has at least 90 days before they must move.[4]
• Allows Section 8 tenants to remain in their homes for the terms of their leases with their rental assistance intact. If the property is purchased by an owner-occupant, the tenant has at least 90 days before they must move.[5]

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