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Parents as covered borrowers under MLA

Question: 
It seems as if a parent or in-law is only covered if the military member is deceased. Is that true?
Answer: 

Not quite. Part 232 defines the term "dependent" to include, "a parent or parent-in-law" who is, or was at the time of the member’s or former member’s death, in fact dependent on him for over one-half of his support and residing in his household. The term includes both a parent and parent-in-law who is now, or who was at the time of the member's death, dependent on the member.

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Learn more about Jack and Kelly’s webinar Military Lending - 11th Hour Checklist

First published on 09/04/2016

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