Mortgage Relief Options for Military Service Members
As a military service member, you've made countless sacrifices for your country. If you find yourself in a difficult situation when it comes to paying your mortgage, there are options and services available to help you.
Mortgage hardship for military service members may be an option if:
- You’ve received Permanent Change of Station (PCS) orders.
- You’re currently on active duty — or just left the service.
- Your mortgage loan was originated prior to your active duty.
There are still options available to you stay in your home, or leave while avoiding foreclosure
Talk to a housing counselor at no cost to you
A HUD-approved housing counselor can help you prepare for a call with your mortgage servicer and learn more about which assistance options are best for you.
Call 1-855-HERE2HELP (855-437-3243)
What options are available?
There are options that can help you stay in your home or leave while avoiding foreclosure.
Protection through SCRA
In addition to having a six percent interest rate cap, military service members are also protected from foreclosure by the Servicemembers Civil Relief Act (SCRA).
If you took out a mortgage before entering active-duty service, you cannot be foreclosed upon without a court order while you are on active duty and for the 12-month period after leaving active duty.
Military home refinancing
When you refinance, you receive a completely new mortgage with new terms, interest rates, and monthly payments. A military home refinance will replace your current mortgage and may lower your monthly payment, which could help improve your financial situation. As a service member, you can explore your eligibility for special VA loans that may provide better terms.
Even if one of these military options isn’t right for your situation, there are still options available.
To learn more about these options, contact a housing counselor or your mortgage servicer – the company that takes your mortgage payments.
Refinance—Replace current mortgage with a new loan with new terms Forbearance—Temporarily reduce or suspend monthly payments Reinstatement—Pay the total missed amount all at once Repayment plan—Pay past-due amounts over multiple months Payment deferral—Delay past-due amounts to end of loan term Loan modification—Change the terms of your existing loanIs one of these options right for you?
Sale with equity: Sell home, pay off mortgage, and keep leftover amount Short sale: Sell home for less than remaining mortgage balance Mortgage Release™: Transfer ownership and all financial responsibilityIs one of these options right for you?
Is one of these options right for you?
Refinance—Replace current mortgage with a new loan with new terms
Forbearance—Temporarily reduce or suspend monthly payments
Reinstatement—Pay the total missed amount all at once
Repayment plan—Pay past-due amounts over multiple months
Payment deferral—Delay past-due amounts to end of loan term
Loan modification—Change the terms of your existing loan
Is one of these options right for you?
Sale with equity: Sell home, pay off mortgage, and keep leftover amount
Short sale: Sell home for less than remaining mortgage balance
Mortgage Release™: Transfer ownership and all financial responsibility
Additional resources for military service members
As a military service member, you have access to an array of services that can help guide you through your mortgage hardship options.
More to explore
Talk to a Housing Counselor
If you’re experiencing financial hardship or the aftermath of disaster, talk to a housing counselor. They can help you create a plan and learn about your options.
Learn more
How a Housing Counselor Can Help You
If you're experiencing financial hardship or the aftermath of disaster, talk to a housing counselor. They can help you create a plan and learn about your options.
Learn more
Mortgage Options to Stay in Your Home
If you're struggling to pay your mortgage but want to stay in your home, there are options that give you breathing room during times of financial stress.
Learn more
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