The Foreclosure Relief and Extension for Service Members Act of 2014

The Foreclosure Relief and Extension for Service Members Act of 2014 provides that if a mortgage was obtained before a service member was an active duty member of the military, then they are protected from foreclosure for a period of time upon return from active duty.  The amount of time that a service member is protected has been extended several times from ninety days to the current period of one year.

In 2008 the period of protection went from 90 days to nine months.  The protection period remained nine months from 2008 through 2012 at which time the protection period was extended to one year.  The one year protection period was set to expire at the end of 2014. However the one year protection period was extended recently until the end of 2015 when the President signed an additional extension into law.

Had the extension not passed, then in 2015 the protection period would have returned to the pre-2008 period of 90 days.  As it currently stands, the protection period will remain one year until the end of 2015.  In 2016 the protection period will return to nine months if not further extended.  Given the number of times the protection period has changed over the years, it is best practice to advise your attorney if you have reason to believe a debtor is in active service.  We can help you determine whether the rule applies, how long the protection lasts, and work to obtain a waiver in some circumstances.