Veteran's Benefits Video #1



Hi, I’m Nevada loss mitigation specialist Damian Falcone.  In this video we will talk about some of the Veterans Benefits and special protections offered to Active members of the US Armed Forces.    


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For those serving our country, military service may often make it difficult to meet financial obligations and to assert many legal rights. Fortunately, Congress recognizes this as well and has passed laws that provide certain legal protections to military members to reduce the difficulties that they can encounter while defending our country. This law is called the Servicemembers Civil Relief Act.


The Service members Civil Relief Act provides some broad protections, but it is not a solution for every legal problem facing the service member. The purpose of this video is to describe a few of the more significant provisions of the Servicemembers Civil Relief Act.


The first thing to be clear about is who is covered under the Service members Civil Relief Act. It is designed to protect Active duty military members as well as reservists and National Guardsmen who are in Active federal service. 


If you are covered, there are several types of relief available to you.  First, you may be entitled to an interest rate cap.  The Servicemembers Civil Relief Act states that if you had a loan with an interest rate higher that 6% prior to entering the service, the interest rate will be capped at 6% unless a court finds that your ability to pay has not been materially affected by your service. This includes credit card and mortgage payments.  This is not done automatically – you must request it of every lender.


The Servicemembers Civil Relief Act also can help protect you and your family from eviction.  If you are leasing a house or apartment and your rent is below a certain amount, the Service members Civil Relief Act can keep your landlord from evicting you, usually for a period of about three months.  It also allows you to terminate a rental agreement if you enter the lease before you are called to Active duty and then receive orders for a permanent change of station, or are deployed for 90 days or more.  Under the Servicemembers Civil Relief Act you can also cancel a car lease if you receive Active duty orders for a period of 180 days or more or if you receive orders to a location outside the continental United States. 


The Servicemembers Civil Relief Act also protects you from certain court proceedings.  If you are sued and a default judgment is taken against you while unable to appear in court because of your military service, you may be entitled to reopen the case when you return from Active duty.  Other court proceedings can also be postponed while you are deployed.


To summarize, the Service members Civil Relief Act can help you get a reduced interest rate on mortgage payments and credit cards, protection from eviction, and delay of civil court proceedings.  To learn more about these or other provisions of the Servicemembers Civil Relief Act, please feel free to contact us.

I’m Loss Mitigation Specialist Damian Falcone and this is “Get Modified”

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8430 West Lake Mead Boulevard, Suite 106
Las Vegas, NV 89128
Telephone: 702-489-6575
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