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Bill > HR1842

US HR1842

US HR1842
Military Family Home Protection Act

summary

Introduced
In Committee
Crossed Over
Passed
Dead

Introduced Session

113th Congress

Bill Summary

Military Family Home Protection Act - Amends the Servicemembers Civil Relief Act (the Act) to allow a court, in an action to enforce an obligation on real or personal property secured by a mortgage against a servicemember who is, or was, eligible for hostile fire or imminent danger pay during a period of military service, a servicemember placed on convalescent status, a veteran who was medically discharged and retired, or the surviving spouse of a member who died during military service, to stay such proceedings, upon request of a covered individual, for a specified period (generally, one year after the event occurred for which the individual became covered). Prohibits the sale, foreclosure, or seizure of the subject property during such period, except upon a court order or pursuant to an agreement authorized under the Act. Requires the individual so covered to notify the mortgagee, trustee, or other creditor of such coverage. Provides a criminal penalty for violations of the sale or foreclosure prohibitions, and increases current civil penalties for mortgage violations under the Act. Prohibits an individual from being denied or refused credit solely by reason of eligibility for relief under this Act. Requires a servicemember-mortgagor who does not reside in the mortgage-secured residence due to military relocation and who inquires about, or applies for, a refinancing to be considered to occupy such residence during the period of the relocation. Requires each lending institution acting as a creditor to such servicemember, veteran, or surviving spouse to designate an employee responsible for ensuring the institution's compliance with the requirements of this Act. Requires any such institution that had prior annual assets of $10 billion or more to maintain on its primary website a toll-free number for information concerning such requirements.

AI Summary

This bill, the Military Family Home Protection Act, amends the Servicemembers Civil Relief Act (SCRA) to provide enhanced protections for military members, certain veterans, and surviving spouses facing mortgage foreclosures. It allows courts to pause foreclosure proceedings for up to a year for individuals who are or were eligible for hostile fire or imminent danger pay, on convalescent status, medically discharged and retired veterans, or surviving spouses of service members who died in service, provided they notify their creditors. During this pause, the property cannot be sold, foreclosed upon, or seized without a court order or agreement. The bill also establishes criminal penalties for violating these sale or foreclosure prohibitions and increases existing civil penalties for mortgage violations under the SCRA. Furthermore, it prevents individuals from being denied credit solely because they are eligible for SCRA protections and clarifies that servicemembers who relocate due to military orders but are not residing in their mortgaged home will still be considered to occupy it when inquiring about or applying for refinancing. Finally, it requires lending institutions to designate an employee responsible for SCRA compliance and for larger institutions (those with over $10 billion in assets) to provide a toll-free number on their website for information regarding these protections.

Committee Categories

Business and Industry, Military Affairs and Security

Sponsors (16)

Last Action

Forwarded by Subcommittee to Full Committee by Voice Vote . (on 07/18/2013)

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