Senators craft extended mortgage relief for military

Five Democratic senators introduced a bill expanding mortgage and foreclosure protections for military families.sen. jack reed, D-R.I., led the bill, known as the Servicemember Housing Protection.

Mortgage Relief for Servicemembers. The new relief is a joint effort of many agencies and departments, including the Federal Housing Finance Agency (FHFA), the Consumer Financial Protection Bureau (CFPB) and the Department of Defense. FHFA Acting Director Edward DeMarco explained the importance of the new programs,

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Dec 15, 2015. H.R. 4252 (114th). To extend temporarily the extended period of protection for members of uniformed services relating to mortgages, mortgage foreclosure, and eviction, and for other purposes. In GovTrack.us, a database of bills in the U.S. Congress.

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Mortgage Forgiveness Debt Relief Act for Military. If your debt meets the qualifications, claim the special exclusion by filing Form 982, also known as Reduction of Tax Attributes Due to Discharge of Indebtedness, during tax season. Attach the completed form 982 to your federal income tax return for the tax year when the qualified debt was forgiven.

If you want to refinance your mortgage, we recommend that you discuss refinancing with a legal advisor to ensure there are no impacts to your SCRA protections. If you are not eligible for the SCRA, Freddie Mac has extended mortgage relief benefits to service members and their dependents as part of our commitment to you and your family.

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The U.S. House of Representatives passed the Foreclosure Relief and Extension for Servicemembers Act of 2015, which extends foreclosure protection for military homeowners from the current 90-day period to a one-year period beginning in January 2018.. The bill is a House companion to S.2392, which passed the Senate in December.

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The U.S. Senate has approved a one-year extension of the tax extenders. We have written previously that not all tax extenders are good tax policy, and thus most should not be extended. There are a.

Until Congress. on Mortgage Principal Forgiveness Policy The FHFA’s intervention in the housing-finance system since the conservatorship of Fannie Mae and Freddie Mac has, in large part, occurred.

One question that keeps surfacing is what relief can military members receive through the Service Members Civil Relief Act (SCRA) of 2003? Homeowners’ Protection Under SCRA | Military.com Login