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Service member’s Death and Protections

Answered by: 

Question: 
How is the bank protected in the event of a death of a single service member?
Answer: 

The bank is not. Death is typically an event of default in a loan contract and
the person would no longer be a servicemember but ensure the SCRA benefit in
question is not carried on by a dependent for a period of time either because of the
relationship of by virtue of a protection extending a time beyond termination of service.
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First published on 05/24/2020

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