HUD Secretary Shaun Donovan says “our military forces should not have to worry about losing their homes to foreclosure while serving their county on active duty.” To help ensure that this does not occur, HUD has revised the Notice of Disclosure form that emphasizes the rights of the military under the Servicemembers Civil Relief Act.
The Act says 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 and foreclosure protection.
In its revised form, the Notice emphasizes that once a servicemember requests relief, there is no requirement thereafter for them to alert their lenders of their military status in connection with a foreclosure. It is the lenders responsibility to make that determination and to send a copy of the Notice of Disclosure to homeowners, who are in default on a mortgage.
The Notice advises servicememebers seeking relief to call 1-800-342-9647 or visit www.militaryonesource.com/scra for additional information and guidance. It also provides guidance on obtaining military legal assistance.