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#2051849 - 12/01/15 05:56 PM Expiration of the one year Stay on Foreclosure Etc
Tesla Offline
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Did I miss it or does anyone know if an extension is in the works for renewing the extension of protection from sale, foreclosure, etc. to one year from military service from 90 days? I believe it is set to expire December 31, 2015.
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#2051950 - 12/01/15 09:59 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
John Burnett Offline
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The 12/31/2015 sunset on that provision is still 12/31/2015. Congress hasn't managed to get around to a lot of things, and extending that date is still nothing more than a pipe dream.
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#2051951 - 12/01/15 10:01 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
Tesla Offline
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Thanks John!
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#2052202 - 12/03/15 03:03 AM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
Reads Regs Offline
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HR189 was just introduced in the House on 12/1 to extend the foreclosure protection for another year. We'll have to see if this bill moves ahead.
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#2052224 - 12/03/15 02:32 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
Tesla Offline
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Thank you. How do I follow the progress of that?
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#2052412 - 12/03/15 09:40 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
John Burnett Offline
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Go to thomas.loc.gov

Make sure the bill number radio button is selected and key hr189 into the search box.

You'll get a status report. The last action reported was on 12/1, when the bill was reported out by the Committee on Veterans' Affairs, and it was placed on the Union Calendar (that's a procedural step before it moves on, if it does).

The text of the bill is also available there. The current version would "kick the can down the road" by delaying the sunset of the one year wording until the end of 2016.
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#2052415 - 12/03/15 09:49 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
Tesla Offline
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Thank you so much! smile
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#2054222 - 12/15/15 05:19 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
Reads Regs Offline
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I see that a different bill was approved by the Senate on 12/10/15. It is S. 2293. It looks like this would extend the 1 year foreclosure protection until 12/31/17. The bill was sent to the House on 12/11/15.
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#2055194 - 12/21/15 08:11 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
StevenD Offline
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#2055213 - 12/21/15 09:00 PM Re: Expiration of the one year Stay on Foreclosure Etc StevenD
Reads Regs Offline
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HR 4252 was introduced on 12/15/15 and no further action was taken. Congress is in recess so it looks like the foreclosure protection period reverts to 90 days post active duty. Are you changing your SCRA notice to reflect this after 12/31/15?
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#2055792 - 12/28/15 03:38 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
SallyGirl Offline
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On December 31, 2015 does the foreclosure protection revert back to 9 months or 90-days after active duty?

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#2055866 - 12/28/15 08:16 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
John Burnett Offline
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Assuming that Congress doesn't once again do a retroactive extension of the section 2203 HERA amendments, my detailed read tells me it will revert to 90 days.
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#2056166 - 12/30/15 02:21 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
Compliance504 Offline
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Are most of you going to just leave the notice at one year...or change it to 90 days....I'm thinking just leave it at one year...

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#2056271 - 12/30/15 07:14 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
banjo Offline
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If nothing passes, and you leave it at one year, wouldn't t you be giving a servicemember incorrect information regarding their rights?

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#2056278 - 12/30/15 07:39 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
John Burnett Offline
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That's my concern, too. The problem, of course, is we don't know what -- if anything -- Congress is going to do on this question or when it might act. I had half hoped we'd see something tucked away in the FAST Act or the big Appropriations Act, but it was not to be.
Last edited by John Burnett; 12/30/15 07:42 PM.
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#2056794 - 01/05/16 06:29 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
liventhedream Offline
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Do you have any new news regarding this reverting back to 90 days?

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#2056808 - 01/05/16 06:57 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
Soccer Offline
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This is what is on the HUD website.

The one year after military service legal protection period is effective through December 31, 2015 under provisions of “The Foreclosure Relief and Extension for Servicemembers Act of 2014” enacted on December 18, 2014 (Public Law 113-286). If this SCRA provision is not amended or revised, the legal protection period will revert to 90 days after military service effective January 1, 2016.
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#2056874 - 01/05/16 09:47 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
John Burnett Offline
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Congress does have a bill in the mill that might get passed and make the change retroactive. Anyone's guess. After Congress actually did its job and compromised to pass the FAST Act and the huge appropriations bill, it would be wonderful to think they might be able to again compromise to get this done.

Or maybe they have exhausted their ability to compromise, and we'll see this pass into oblivion.
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#2056921 - 01/06/16 02:01 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
banjo Offline
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So, if they want to make this retroactive, would the law have to pass within 90 days of the expiration date?

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#2056924 - 01/06/16 02:09 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
ocbeach Offline
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Maryland
So, we'll change our notice to 90 days, order stock with the new wording and then, in a month or so, Congress will make it retroactive and we'll have to order new stock again. All in an effort to remain compliant.

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#2059286 - 01/19/16 05:11 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
L.A. Offline
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When I pull up the SCRA notice on HUD's website, it remains at 1 year with an expiration date of 12/31/17. Are we to assume this is the correct one to use?

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#2059291 - 01/19/16 05:35 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
rlcarey Online
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It is no longer the law. How you choose to handle the notice is really up to you.
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#2061934 - 02/02/16 08:23 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
JWills, CRCM Online
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Is there nothing new on this? Should we change everything to read 90 days now? Thanks in advance.
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#2061948 - 02/02/16 09:01 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
John Burnett Offline
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It's only been a month, and Congress hasn't been in session for much of it. Technically, you could go ahead and operate under the old 90-day rule. Just don't be surprised if the law gets the Lazarus treatment, with another extension, retroactive to 12/31/15
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#2061953 - 02/02/16 09:20 PM Re: Expiration of the one year Stay on Foreclosure Etc Tesla
JWills, CRCM Online
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I am working on updating policies and procedures, so I will wait a bit. The form though does state 1 year. I am with you, I believe they will extend it, just not in a timely fashion. Thanks John.
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