The Protecting Tenants at Foreclosure Act


Article by: Lee Cuilli


A federal law was recently passed which significantly impacts a lender’s right to take possession of tenant occupied property bought at foreclosure sale. This law is known as the Protecting Tenants at Foreclosure Act and became effective upon its enactment on May 20, 2009. This law applies to tenant occupied property that is bought by a lender who has foreclosed a “federally related mortgage loan” as defined in the Real Estate Settlement Procedures Act of 1974 (“RESPA”).

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Our Fees

Our fees are competitive and conform to industry standards. In most instances, the following fee arrangements are available:


1. Collection matters are handled on a contingency fee basis, but an hourly option is available and sometimes requested by clients who hold large balance claims. At a clients’ request, fees for collection matters can be billed on a per item flat fee basis for letters, pleadings, motions, and executions.


2. Uncontested foreclosures and related bankruptcy and eviction matters are most often billed on a flat fee basis according to the Fannie Mae guidelines. Contested matters, and counterclaims, generally require additional flat fee or hourly billing, subject to client approval;


3. Uncontested replevin cases are also handled on a flat fee basis. If the right to recover possession is opposed, the matter is converted to an hourly fee basis, upon client approval;


4. Mechanic’s lien matters are treated the same as replevin cases, unless they involve multiple properties, or otherwise relate to unusual subject matter;


5. Our firm is also pioneering the availability and use of alternative fee arrangements (“AFA’s”) for legal services that have traditionally been billed hourly. The availability of AFA’s is a product of our firm’s ambition to deliver legal services in an efficient and cost-effective manner, and help clients more effectively forecast and contain costs. AFA’s are available for an ever expanding range of matters, including litigation defense, discovery disputes, and appellate practice.

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