Representative Karen Bass (D-CA) cosponsored H.R. 3543, the Permanently Protecting Tenants at Foreclosure Act, on March 5. The measure, introduced by Representative Keith Ellison (D-MN), now has 24 co-sponsors and has been referred to the House Committee on Financial Services. The Senate companion bill sponsored by Senator Richard Blumenthal (D-CT), S. 1761, has five co-sponsors and has been referred to the Senate Committee on Banking, Housing, and Urban Affairs.
The Protecting Tenants at Foreclosure Act (PTFA) is the only federal protecting for renters living in foreclosed properties, and affords these renters the right to at least 90 days’ notice before being required to move after a foreclosure. If the law is not extended by Congress it will expire on December 31, 2014. Both H.R. 3543 and S. 1761 would remove the sunset date entirely, making the law permanent. The bills would also add a private right of action to the law.
Advocates should contact their representatives and senators and ask them to cosponsor H.R. 3543 and S. 1761, respectively.