Reboot Your Life: Tampa Student Loan and Bankruptcy Attorney Blog
Servicemembers’ Protection from Foreclosure
The Servicemembers Civil Relief Act, 50 U.S.C. § 3953(c), provides protections from foreclosure for covered personnel where their residential mortgage loans were extended prior to their active duty. Originally this protection extended for only 90 days after the person left military service, but this period was extended to nine months and later to one year, but with a sunset at the end of 2017. Section 313 of Public Law No. 115-174 restores the one-year period and eliminates the sunset, making the one-year period permanent.
- This is good news for our armed forces who are facing foreclosure now or in the future. The one year protection has been re-established after it expired last year and has been made permanent!