Bill Aims to Extend Foreclosure Protections to More Soldiers
Posted by: kateg 5 years, 4 months ago
Legislators on Capitol Hill introduced new legislation on May 7 that would extend foreclosure protections to enlisted persons who bought homes after going on active duty.
Dubbed the Military Family Home Protection Act (H.R. 1842), the bill picks up where the Servicemembers Civil Relief Act (SCRA) leaves off.
Under existing law, military personnel enjoy foreclosure protections under the SCRA if they acquire their homes prior to activation. H.R. 1842 expands those safeguards to all members of the Armed Forces even if they purchased residences after activation.
In addition, the legislation stays a foreclosure action whenever a member of the military is receiving hostile fire or imminent danger pay. It also freezes foreclosure actions for as long as one year for service members who are medically discharged or those placed on convalescent status — a provision that also applies to surviving spouses of military personnel who lose their lives in the line of duty.
Source: “Lawmakers Draft Bill to Extend Foreclosure Protections to More Soldiers,” HousingWire (May 7, 2013)
© Copyright 2012 Information Inc.Share on Twitter Share on Facebook
San Diego Homes
- New Landscape Transformation Program Increases Incentives in San Diego County
- 624 10th Avenue JUST SOLD!
- 226 Orange Avenue #303 JUST SOLD!
- 1820 Avenida Del Mundo #606's price has been REDUCED!
- 2018 4th of July Events
- Blog (345)
- Buyer's Guide to Buying a Home (11)
- DIY Homeowners (55)
- FAQ Buyer (35)
- FAQ Property Management (7)
- FAQ Renters (7)
- FAQ Seller (32)
- FAQ Short Sale (6)
- Friday Favorites (4)
- Home Projects (59)
- Listings (132)
- Local Info (74)
- Market Matters (34)
- Open House (18)
- Rentals (18)
- Staging (1)
- Things to do (77)
- Tips (5)
- Tips for Buyers (7)
- Tips for Homeowners (5)
- Tips for Renters (5)
- Tips for Sellers (5)
- Tips/FAQs (2)
FeedsRSS / Atom
Latest NewsJuly 10, 2018 New Landscape Transformation Program Increases Incentives in San Diego County June 29, 2018 624 10th Avenue JUST SOLD! June 25, 2018 226 Orange Avenue #303 JUST SOLD! READ MORE
Our initial experience with you, especially with your demonstrable expertise, knowledge, and willingness to both educate and work with us regarding the market and related considerations particular to Coronado, resulted in a gratifyingly helpful and positive experience for us.—Robert R. READ MORE