Congress voted yesterday to renew a part of the Servicemembers Civil Relief Act that provides one-year foreclosure protection for military personnel leaving active duty through 2017. Service members will continue to be protected from foreclosure for one year following the end of their service.
The original extension—which expanded the standard 90-day foreclosure protection for military personnel—expired at the end of 2015. ABA was part of a coalition of trade associations that successfully lobbied Congress in support of the renewal. The newly extended protection takes effect once signed by the president, and will be retroactive to Jan. 1, 2016.
