NSP FAQ
Q

Bona fide tenants occupying a property at the date of notice of foreclosure are eligible for NSP tenant protections. How is the date of notice of foreclosure determined?

Date Published: October 2012

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A

Section 1497 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111-203 states, "the date of a notice of foreclosure shall be deemed to be the date on which complete title to a property is transferred to a successor entity or person as a result of an order of a court or pursuant to provisions in a mortgage, deed of trust, or security deed." Note: Relocation and tenant protection can be a difficult subject for many grantees and mistakes can lead to costly findings. It is recommended that grantees contact their regional relocation specialist or HUD field office for guidance.


Tags: NSP Program Requirements - Tenant Rights and Tenant Protections

FAQ ID:

977