SCRA Relief Extended for Veteran Homeowners
In 2012, Congress extended the Servicemembers’ Civil Relief Act (SCRA) protection against foreclosure for service members from 3 months to 1 year post-military service. Under this SCRA extension, veterans and their families are given additional time to transition from active duty to civilian life and delay eviction or foreclosure proceedings. The SCRA foreclosure relief was set to expire on December 31, 2015.
Congress recently approved another extension through December 31, 2017 for a one year period after a service member’s service. We thank Congress for recognizing the financial stressors service members and their families face as they transition from active duty to veteran status. Foreclosure protection allows veteran homeowners additional time to gain financial stability and remain in their homes amidst a time of many changes in the family’s life.
Posted May 13, 2016