Mortgage Payment for Deployed Military Members - How It Works?

Hi everybody! Joining the military and having a place of my own has always been my dream. I've been wondering - does a deployed military member still have to keep up with mortgage payments?

Yes, deployed military members are responsible for their mortgage payments while they're away. Your financial obligations, such as a mortgage, do not stop or pause while you're deployed. This is an aspect that people may overlook, which is important to know for planning purposes.

However, there are certain exceptions and programs to help military members manage this responsibility. For instance, the Servicemembers Civil Relief Act (SCRA) offers several protections for service members to help them manage their financial obligations while on active duty. This includes reduced interest rates on mortgage payments, and preventing foreclosures without a court order. Deployed service members may also be eligible for certain grants and financial assistance programs to help with their mortgage payment, depending on their location and circumstances.

It would definitely recommend seeking financial counseling or advice before your deployment to understand these programs better and to create an effective plan for managing your mortgage payments while you're deployed. This can help you stay ahead in your financial journey while serving your country. It's also a good idea to save as much as you can prior to deployment to make sure you are financially stable while you're away. Remember, preparation is key!