Senator Brian X. Foley (D – Blue Point) announced two major initiatives that will help veterans returning to New York State from tours in Iraq and Afghanistan.
Foley is sponsoring legislation that will help veterans reclaim homes lost to foreclosures. The legislation (S4025-B) allows local governments to waive penalties, interests payments, and fees that are owed by military personnel or their spouses on houses they have lost due to foreclosures. While there are federal statues barring banks from foreclosing on service men and women on active duty, the Foley legislation allows veterans to redeem their homes within three years of foreclosure, provided there is no other family occupying it.
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