Foreclosure has affected many people across the country during the last five years; but one group is becoming more and more in need of foreclosure prevention assistance. Veterans are increasingly facing foreclosure as unemployment continues to rise for post 9/11 veterans at a higher rate than the rest of the country.
The Servicemembers Civil Relief Act (SCRA) was put in place to protect veterans from civil matters such as breach of contract, bankruptcy and foreclosure. However, several banks that have improperly overcharged and foreclosed upon deployed servicemembers during the past year. This is in violation of the SCRA. The Servicemembers Rights Enforcement Improvement Act of 2012 was introduced by United States Sen. Patty Murray in April of this year. This bill aims to strengthen the protections of SCRA and help enforce them.
The U.S. Department of Veterans Affairs (VA) has many programs and supportive services for servicemembers in need. If you or a Veteran you know is having trouble with employment or housing, contact the VA’s toll-free hotline at 1-877-424-3838.
The Minnesota Housing Finance Agency also has many great services for housing veterans. If you or a Veteran you know is having trouble with making your mortgage payments, contact Twin Cities Habitat for Humanity at 612-331-4090 ext. 3 or visit our Mortgage Foreclosure Prevention Program online.
Help end veteran homelessness:Start spreading the word about these services.
By Kate Klip, Mortgage Foreclosure Prevention Program Intern