Military Foreclosure Protections Extended

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Lawmakers have granted active-duty military an extension in avoiding foreclosure. House and Senate lawmakers recently agreed to extend until the end of 2015 protections for military members, which will prevent a bank from issuing a foreclosure on their home for a year after they complete active duty.

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The Servicemembers Civil Relief Act in 2008 originally had lengthened foreclosure protections from 90 days after returning from active-duty to nine months, as long as the military member had taken out the mortgage prior to active duty. In 2012, that extension was lengthened to one year upon returning from an active-duty assignment. That 2012 extension, however, was set to expire at the end of this year, which would have reduced the foreclosure protection period for active duty personnel back to just 90 days. The new extension for 2015 will again prevent the bank from issuing a foreclosure on active-duty personnel for a year after they return from service.

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The Service-members Civil Relief Act also contains other housing-related protections and extensions for active duty military members, such as preventing some rental evictions for up to three months and allowing service members in some cases to opt out of leases or rental agreements without penalty.

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