Washington, DC – Senator Sheldon Whitehouse’s (D-RI) bill to
extend vital foreclosure protection to servicemembers and their families passed
the Senate today as part of the fiscal year 2018 defense authorization
bill. Whitehouse’s legislation would extend through 2019 the one-year
grace period protecting servicemembers leaving active duty from foreclosure.
“The men and women of our armed forces serve our country
nobly. When they return home, they should have time to adjust to civilian
life and find their financial footing,” said Whitehouse. “That’s why I’m
proud we’ve passed my legislation to extend these vital foreclosure protections
for servicemembers and veterans.”
Senator Whitehouse has been fighting for years to ensure
that those who have served our country and their families are protected from
foreclosure as they transition from active-duty service to civilian life.
In 2012, Whitehouse fought successfully to extend the period of foreclosure
protection to one year. Since then, Whitehouse has succeeded in
continuing that protection on a temporary basis, while fighting
to make it permanent. The 2016 extension of these protections expires at
the end of 2017.
In 2008, Congress first extended the period of foreclosure
protection under the Servicemembers Civil Relief Act from 90 days to nine
months in response to a report by the Commission on the National Guard and
Reserves. The report found that “the threat of foreclosure is a stressor
that need not be placed on members of the armed forces during the first months
of their return to civilian life.”