Those serving in our armed forces had been subject to Congressional protection from foreclosure for a period of one year, a statue that was set to expire in December, 2014. As of last Friday, they now enjoy an additional 13 months of protection under the Foreclosure Relief and Extension for Servicemembers Act of 2014. Bankruptcy Attorney David Chenelle was pleased to note that the act was passed unanimously by both the House and Senate last week. The act, intended to allow additional time for those returning from active service to recover their financial footing, also restricts the repossession of automobiles and other personal property, a measure that goes an extra step toward honoring military families.
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