LANSING — State Rep. Terry J. Sabo (D-Muskegon) has introduced legislation that would help protect recent active-duty veterans facing foreclosure. The bill, House Bill 4875, would extend the window of time the veteran would have to secure the financing to prevent foreclosure.
“Having served in the Air Force, I know firsthand the difficulties veterans can face returning from active duty, especially when it comes to managing finances and the home,” said Rep. Sabo. “My bill helps communicate to veterans that we understand their unique situations and needs, and gives them a little extra room to turn things around when the unthinkable happens.”
HB 4875 would provide an extra six months from the notification of foreclosure for a veteran who had returned from active duty within a one-year period to secure financing to avoid losing their home. Following introduction, the bill was referred to the House Committee on Military and Veterans Affairs, where Rep. Sabo serves as the Democratic vice chair.
“While every veteran deserves our care and respect, someone who has just recently returned from service should be provided every opportunity to begin rebuilding their life here at home,” said Rep. Sabo. “That includes the government doing what it can to support these veterans in times of crisis. Passing this legislation is a simple way of addressing a problem that is unfortunately common, and I look forward to bipartisan support for it.”