S.486 - Protecting Servicemembers from Mortgage Abuses Act of 2011112th Congress (2011-2012)
|Sponsor:||Sen. Whitehouse, Sheldon [D-RI] (Introduced 03/03/2011)|
|Committees:||Senate - Veterans' Affairs|
|Latest Action:||06/08/2011 Committee on Veterans' Affairs. Hearings held. (All Actions)|
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Summary: S.486 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in Senate (03/03/2011)
Protecting Servicemembers from Mortgage Abuses Act of 2011 - Amends the Servicemembers Civil Relief Act to extend from 9 months to 24 months after military service the period of protection for a servicemember against mortgage sale or foreclosure, as well as the stay of proceedings, in the case of an obligation on real property of a servicemember that originated before the period of military service.
Repeals the sunset date for such periods of relief under the Housing and Economic Recovery Act of 2008.
Increases criminal and civil penalties for mortgage abuses, including felonies for unlawful eviction or distress or for unlawful sale, foreclosure, or seizure.