In 2009, a Frisco, Texas homeowners association foreclosed on the home of a Texas Army National Guard officer while he was deployed overseas in Iraq. The reason: He was delinquent in paying his homeowners association fees.
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Interest rate on credit card debt, mortgages, car loans, and all other consumer debt is limited by statute to 6 percent.
If the service member rents housing, he or she is protected from eviction if the monthly rent is $3,017.45 or less.
Mobilization or entry into active duty is generally legal grounds for termination of an existing lease.
Delay of all civil court collection actions, including bankruptcy proceedings, divorce proceedings and foreclosures.
Absent a court order, the SSCRA mandates a moratorium on all foreclosures for the period of active duty and for nine months thereafter.
The court order requirement applies even in states with non-judicial foreclosures.
No fines or penalties under contracts may be imposed for late payments, etc., while proceedings are stayed by a court order.
The service member can agree to waive rights under the SSCRA, but such waiver must be in writing.
A few notes that property managers and HOA boards should be aware of:
Where do I Get an Affidavit of Non-Military Service?
Defense Manpower Data Center
Writing about personal finance and investments since 1999, Jason Van Steenwyk started as a reporter with Mutual Funds Magazine and served as editor of Investors’ Digest. He now publishes feature articles in many publications including Annuity Selling Guide, Bankrate.com, and more.
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