Foreclosures Keep Military Families Seeking Help
As the economy continues to slump, military families are finding it harder and harder to keep their heads above water. The housing crisis has taken a toll on the pockets of Americans who took out extra mortgages before the collapse of the housing market. Many soldiers are returning to America after multiple tours overseas only to realize their families are at risk of losing their homes.
The Servicemembers’ Civil Relief Act (SCRA) was created to help military families facing foreclosure because of nonpayment. It is aimed at assisting soldiers who have missed enough payments to qualify for foreclosure and continue to miss payments for 90 days upon returning home.
The law protects soldiers by requiring a court ruling prior to foreclosure. Any sale of a home belonging to a soldier covered under the SCRA without a court ruling is considered invalid. There is also some recourse for soldiers whose homes have suffered foreclosure. It is important for military members to understand the law and know if they are covered or not.
For more information about the SCRA, contact the Judge Advocate Genera’s office, located at the military base or VA office nearest you.
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