Coalition Letter to Chairmen McKeon Miller Levin and Sanders Regarding One Year Extension of SCRA Foreclosure Protection
Issue Date: December 04, 2014
On December 4,2014, NAR, as part of a coalition of financial services industry trade groups, sent a letter to Chairmen McKeon, Miller, Levin, Sanders, Ranking members and other key staff. The letter encourages Congress to extend the foreclosure protection for one year under the Servicemembers Civil Relief Act (SCRA). The CBO has scored the cost to extend the foreclosure protection as de minimis. The current one year protection from foreclosure for military service members leaving active duty will expire at the end of 2014 and revert to the original three month protection under the SCRA. The one year of protection should be extended for an additional year.