Can a bank foreclose on a servicemember under the SCRA?

Under the SCRA, banks cannot foreclose on a servicemember without going through a series of steps. These steps change frequently, when there are changes in law, enforcement, and policy so it is best to check for any updates before embarking on this procedure.

Is it a violation of SCRA to evict a servicemember?

These steps change frequently, when there are changes in law, enforcement, and policy so it is best to check for any updates before embarking on this procedure. For instance, it is also a violation of the SCRA to evict a servicemember’s dependents in their absence.

How many BDO foreclosed properties are there in the US?

A total of 869 BDO foreclosed properties are available as of June 4, 2021. This list comes from Ms. Mila Dioneda of the BDO Property Management – Retail Sales.

Is there an exemption for the military in a foreclosure?

With a foreclosure, there are no exemptions based on the dollar amount of the mortgage. Before taking any steps with a foreclosure, you must verify military status. If the borrower is military, and deployed, you must seek a court order before proceeding or risk incurring steep fines.

How does the SCRA protect the military from foreclosure?

The Servicemembers Civil Relief Act (SCRA) provides legal relief to military personnel who are in danger of foreclosure. Not only are servicemembers entitled to certain protections from foreclosure for loans taken out before going on active duty, the SCRA also provides some protection if you took out the loan after going on active duty.

How does the SCRA protect servicemembers from default?

The SCRA protects servicemembers against default judgments. (50 U.S.C. § 3931). This protection applies to judicial foreclosures. Judicial foreclosures are completed through the state court system.

Can a foreclosure be completed against an absent servicemember?

A judicial foreclosure can be completed against an absent servicemember, but only under certain circumstances. Under the SCRA, a plaintiff (the party that brings a lawsuit) who seeks a judgment must inform the court if the servicemember is on active duty.

Are there foreclosure protections for military servicemembers?

Not only are servicemembers entitled to certain protections from foreclosure for loans taken out before going on active duty, the SCRA also provides some protection if you took out the loan after going on active duty. Read on to learn more about how the SCRA can help you if you are a military servicemember facing the foreclosure of your home.