Posted by Rick Harmon on July 15, 2010 at 11:59:07:
Doesn’t take much to cause foreclosure trustee to stop. In my case, I think the debtor provided papers showing he had been called from the reserves to active military duty.
I don’t recall us being able to do anything at all until many months later, so you’ll need to research the remedies for your case.
Soldiers and Sailors anybody? - Posted by John
Posted by John on July 14, 2010 at 20:21:37:
I’ve got a situation where my active Marine Sgt borrower just walked away from a 2d loan, w/o having made any payment or any explanation so I’ve got no option now but to sue him for my client.
He got 1st and 2d loans to buy, fix and flip a NOO duplex on which he found a “deal”.
Looks like his 1st has foreclosed on that 1st lien DOT so all that’s left for my lender is suit on his note.
Has anybody else had this situation and if so, how did you or your lawyer handle the SCRA (Servicemembers Civil Relief Act) issue*…used to be Soldiers and Sailors Civil Relief Act of '43.
I can either ignore it in my court complaint, and force the USMC Sgt to come in and try to “stay” the action because he’s still in USMC, or I can inform the court in my complaint and force the Sgt or his lawyer to bring it up.
Either way it looks to me like he’s gonna get a 90 day stay but w/o any legitimate defenses to our suit on his note, no permanent or long-lasting deferral of the suit or our inevitable judgment.
*He’s been in USMC since long before he took out these 2 RE loans so it clearly isn’t a matter that SCRA was designed to cover…that of the civilian who has made a RE or other installment agreement but has now been drafted and needs a stay.
Yep - Posted by Rick Harmon
Posted by Rick Harmon on July 14, 2010 at 22:20:59:
It’s a real law and you’d be foolish to ignore it. Learned about it’s significance during the 1991 Gulf War.
My GI probably had a plan similar to yours, but that’s now just another lesson in the university of lending private money.
You’d be foolish to ignore it. Not your place to determine whether this marine is honor-bound or not. all I can say is, you’ll be one hurting lender if you think that ignoring this threat is a smart plan.
Re: Yep - Posted by John
Posted by John on July 15, 2010 at 11:45:45:
I’m hardly ignoring the law or the existence of the isssue in my case;just thinking through the best way to deal with it.
What happened on your GI loan when you filed suit against the debtor?
How did your lawyer handle his GI status in the complaint he filed for you?
Did your lawyer refer to it or did he remain silent on it and force GI to assert it in GI’s filed answer?