Topic: Real Estate, Mortgage
Industries: Real Estate
Tags: Real Estate, Mortgage, Home, House, Military, VA, Veterans
Date: May 15, 2012
Military servicemembers could get expanded protections from mortgage lenders under legislation to be introduced Tuesday.
Reps. Elijah Cummings, D-Md., Bob Filner, D-Calif., and Adam Smith, D-Wash., plan to submit an amendment to a defense spending bill being considered by the House this week. The amendment expands the Servicemembers Civil Relief Act to include more homeowners under the umbrella and to delay evictions for a longer period.
“Our troops fighting overseas in Iraq or Afghanistan should not have to fight here at home just to keep a roof over the heads of their loved ones,” Cummings said. “This bill will expand current law to protect more of our brave men and women in uniform from losing their homes while they protect our freedoms abroad.”
The amendment expands protection to servicemembers operating in support of contingency operations, which include national emergencies. Surviving spouses of military members who died in service will also be moved under the umbrella of the law, according to the amendment.