The vast majority of active duty servicemembers rent homes throughout the United States. While about 65 percent of the U.S. population own their homes, only about 25 percent of servicemembers are homeowners, making many vulnerable to eviction upon foreclosure of their rented homes.
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Protecting Tenants: Foreclosure Act of 2009 Benefits Military Renters

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According to the Defense Department, President Barack Obama has made it possible for military renters - especially those who rent many different homes and move often to different states and various military locations - to relax in their homes.

As of May 20, 2009, President Obama signed into law the Protecting Tenants at Foreclosure Act of 2009, a protection for military members whose rented homes are foreclosed upon, and who had in the past been faced with eviction by new landlords.

HOW INCREASED FORECLOSURES OF RENTED HOMES MAY AFFECT MOST OF THE MILITARY

The vast majority of active duty servicemembers rent homes throughout the United States. While about 65 percent of the U.S. population own their homes, only about 25 percent of servicemembers are homeowners, making many vulnerable to eviction upon foreclosure of their rented homes.

President Obama's Protecting Tenants at Foreclosure Act of 2009 now protects all renters from being forced from their homes if foreclosure occurs and a new landlord takes over, by allowing renters to stay in their homes throughout the duration of their lease, unless the new owner is moving into the home or if the renter is renting under a month-to-month lease. Still, Obama's new law gives renters at least 90 days before they can be evicted.

PRESIDENT OBAMA PROVIDES RENTERS WITH NEW SECUREITY AND PROTECTION

Before the Protecting Tenants at Foreclosure Act, only individual state protection was available for renters, or none at all. Renters often found themselves scrambling against an immediate eviction after foreclosure.

This may have been most difficult on military members, many of whom are transferred from one state to another every two to three years, and rent more homes more often than most Americans.

The federal Protecting Tenants at Foreclosure Act now provides a baseline of protection for all renters, no matter where they live in the United States. At the very least, military renters will have 90 days of protection against eviction.

JOINT FEDERAL TRAVEL REGULATION, FORECLOSURE AMENDMENT OFFER MILITARY RENTERS FINANCIAL BENEFITS

The Protecting Tenants at Foreclosure Act is just one of several laws that ensure military members are taken care of as they move from state to state to new duty stations.

Another is the Joint Federal Travel Regulation, which defines financial benefits awarded to military service members upon changing duty stations.

In addition, the Protecting Tenants at Foreclosure Act was amended in July 2009 to allow the federal government to financially support local moves by military members. In the event that service members are forced to move from their homes, they may be entitled to financial support from the government pay for the move.



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