HUD Updates Notice on Homeownership Rights of Service Members

The U.S. Department of Housing and Urban Development (HUD) has released a revised Notice of Disclosure form that describes the rights of active duty military and their dependents who are protected under the Servicemembers Civil Relief Act. This law requires that military personnel on active duty in wartime are entitled to mortgage relief, including a lower interest rate (not more than six percent) on their mortgages. It also states that a foreclosure proceeding against certain military personnel, who are recalled to active duty, is not valid unless the creditor has obtained a court order approving it. In addition, the law protects Service Members who may be facing eviction because their landlords themselves are forced into foreclosure.

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