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Senate Veterans’ Affairs Committee Approves Whitehouse Legislation to Protect Servicemembers from Foreclosure

Washington, DC – The U.S. Senate Committee on Veterans’ Affairs has approved the Veterans Programs Improvements Act of 2011, which includes a key component authored by U.S. Senator Sheldon Whitehouse (D-RI) to help keep military families in their homes.  The Committee’s bill includes a measure to lengthen the period of foreclosure protection for servicemembers returning from active duty, which is similar to a provision from Whitehouse’s Protecting Servicemembers from Mortgage Abuses Act of 2011.

“Troops returning from active duty often need time to regain their financial footing, and their families should not be subjected to the threat of foreclosure,” said Whitehouse.  “I’m pleased that the Veterans’ Affairs Committee took this important step to strengthen protections for military families struggling to keep their homes, and I will keep fighting to move this important legislation forward.”

Currently, the Servicemembers Civil Relief Act prevents mortgage servicers from foreclosing on the homes of active duty servicemembers for the duration of their deployment and for 9 months after their tour of duty.  The bill approved by the Committee would lengthen that period from 9 to 12 months.

Additionally, the bill requires a report with recommendations to improve the long-term financial well-being of servicemembers and their families.

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