Military Foreclosure Relief Sent to President’s Desk

On Monday, March 21, 2016, the U.S. House of Representatives unanimously approved S. 2393, the Foreclosure Relief and Extension for Servicemembers Act of 2015.  CBA joined other trade associations in sending a letter to House Speaker Paul Ryan (R-WI) and Minority Leader Nancy Pelosi (D-CA) expressing support for the legislation which would extend through 2017 an expired provision providing one year of foreclosure relief to servicemembers leaving active duty.  Specifically, the legislation would make the sale, foreclosure, or seizure of a servicemember’s property illegal without a court order or agreement from the servicemember.  Sponsored by Democratic Sen. Sheldon Whitehouse (D-RI), the legislation unanimously passed out of the Senate in December of 2015.  The legislation has now been sent to President Obama for his signature.