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#2248886 - 02/08/21 08:37 PM SCRA Search - Foreclosure
Believing... Offline
Gold Star
Joined: Apr 2012
Posts: 259
In the mountains
We have a foreclosure situation where one owner (spouse) of the property is not on our loan. We do not have the additional info on this individual to perform a SCRA search. We should be searching all property owners prior to foreclosure proceedings, correct?

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#2249546 - 02/22/21 08:31 PM Re: SCRA Search - Foreclosure Believing...
Andy_Z Offline
10K Club
Joined: Oct 2000
Posts: 27,196
On the Net
Yes, you are considering potentially displacing a servicemember from property they own property/home. Some form of verification should be done to mitigate the risks.

In my book, servicemembers are as good as a protected class when it comes to enforcement actions. I suspect during a COVID period foreclosures are harder to do anyway. This is one more issue.
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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