Can Military Personnel with Signed Mortgages Be Deployed?

Hey guys, I've been looking into a military career after high school, but I'm concerned about what might happen if you're deployed. Specifically, if you are a military member with a signed mortgage, can you still be deployed? Would the mortgage be affected in any way? Do we get any housing allowances or benefits?

Absolutely, military personnel can indeed be deployed even if they have signed mortgages. In fact, military service members are often homeowners. Your deployment wouldn't directly affect your mortgage; it would still need to be paid as agreed. However, there are some programs and laws designed to aid active-duty service members with financial responsibilities like mortgage payments.

One of such laws is the Servicemembers Civil Relief Act (SCRA). It gives military members a range of protections. It covers issues like rental agreements, security deposits, prepaid rent, eviction, installment contracts, credit card interest rates, mortgage interest rates, and mortgage foreclosures. It also includes termination of car leases, life insurance, health insurance, and income tax payments. Under this Act, the interest rate on mortgages can be dropped to 6% during the duration of your service.

In addition, the military does provide a housing allowance called Basic Allowance for Housing (BAH) to cover the cost of housing when military housing is not provided. The BAH rates are based on geographic duty location, pay grade, and dependency status, and it's intended to provide service members housing compensation equitable to local civilian housing markets.

For members that choose to live in government quarters, they will not receive BAH as their housing is being provided by the government.

It's important to consult with a military financial advisor or legal assistance officer to fully understand what benefits and protections are available to you when it comes to homeownership and being in the military. They can guide you on managing financial obligations while serving. And remember, the key to maintaining healthy finances is always living within your means and saving whenever possible. That advice holds true whether you're on active duty or a civilian.