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Is there a notice banks need to send to a servicemembers when they miss their mortgage payments?
Yes, banks must send a notice of servicemembers' rights to borrowers within 45 days of the date a missed payment was due on a mortgage secured by the borrower's principal residence, unless the borrower pays the past-due amount before the expiration of the 45-day period.
The contents of the notice are prescribed in HUD's (Servicemembers Civil Relief Act Notice Disclosure).