The 2009 Protecting Tenants in Foreclosure Act law (“PTFA”) upheld existing leases and required that tenants in foreclosed properties be given 90-days notice before being evicted in some situations. PTFA was originally set to expire at the end of 2012, but a provision of the Dodd-Frank Act extended the law until the end of 2014. Unfortunately, a bill to extend PTFA further was stalled in congress.
As of January 1, 2015, that law is expired. Although several states have enacted their own versions of the law, Florida is not one of those states.
A public relations nightmare for banks and loan servicers? Why some banks and loan servicers are still deciding internally how to handle this situation, several banks and loan servicers are moving forward with the eviction process following the foreclosure sale when tenants fail to voluntarily vacate the property.
For more information of your rights and aggressive foreclosure defense, call the Law Office of Ryan S. Shipp, PLLC @ (561) 699-0399. We are located in Lantana, Florida, we serve South Florida.
