Bill Protecting Service Members From Foreclosure Gains Traction

August 1, 2013
Housing Wire  
mortgage lending news

The House Veterans Affairs Committee has approved legislation that shields members of the U.S. armed forces from wrongful foreclosure, clearing the way for a vote in the full chamber. The action follows testimony from Holly Petraeus, assistant director for the Consumer Financial Protection Bureau's Servicemember Affairs office, who recently told the Senate Veterans Affairs Committee that almost half of all complaints from veterans over a two-year period had to do with mortgage issues. A rider to the Military Home Protection Act, the House bill bars banks from seizing the homes of enlisted people deployed overseas, disabled veterans, and their spouses.
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