ENHANCEMENT OF PROTECTIONS FOR SERVICEMEMBERS RELATING TO MORTGAGES AND MORTGAGE FORECLOSURES.

SEC. 2203. ENHANCEMENT OF PROTECTIONS FOR SERVICEMEMBERS RELATING TO MORTGAGES AND MORTGAGE FORECLOSURES.(a) Extension of Period of Protections Against Mortgage Foreclosures.—(1) Extension of protection period.—Subsection (c) of section 303 of the Servicemembers Civil Relief Act (50 U.S.C. App. 533) is amended by striking “90 days” and inserting “9 months”.(2) Extension of stay of proceedings period.—Subsection (b) of such section is amended by striking “90 days” and inserting “9 months”.(b) Treatment of Mortgages as Obligations Subject to Interest Rate Limitation.—Section 207 of the Servicemembers Civil Relief Act (50 U.S.C. App. 527) is amended—(1) in subsection (a)(1), by striking “in excess of 6 percent” the second place it appears and all that follows and inserting “in excess of 6 percent—“(A) during the period of military service and one year thereafter, in the case of an obligation or liability consisting of a mortgage, trust deed, or other security in the nature of a mortgage; or“(B) during the period of military service, in the case of any other obligation or liability.”; and(2) by striking subsection (d) and inserting the following new subsection:“(d) Definitions.—In this section:“(1) Interest.—The term ‘interest’ includes service charges, renewal charges, fees, or any other charges (except bona fide insurance) with respect to an obligation or liability.122 STAT. 2850“(2) Obligation or liability.—The term ‘obligation or liability’ includes an obligation or liability consisting of a mortgage, trust deed, or other security in the nature of a mortgage.”.(c) Effective Date; Sunset.—(1) Effective date.—The amendment made by subsection (a) shall take effect on the date of enactment of this Act.(2) Sunset.—The amendments made by subsection (a) shall expire on December 31, 2010. Effective January 1, 2011, the provisions of subsections (b) and (c) of section 303 of the Servicemembers Civil Relief Act, as in effect on the day before the date of the enactment of this Act, are hereby revived.