If we go to war and I get drafted and they dont pay me enough to cover my mortgage, do I lose my house? How does that work?
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You should get BAH to cover your mortgage, so enter your zip code in the BAH calculator https://www.defensetravel.dod.mil/site/bahCalc.cfm ...and it should tell you how much you would get paid over your base pay to cover your housing.
There might still be a law in place that there was back in the '50's when I went in. I think it was called 'The Soldiers and Sailors Act'. In simplest terms it meant if your loss of income, because of being drafted, made it impossible to meet your financial obligations, your banks/credit unions had to make adjustments so your payments would be reasonable per your income. Once you were discharged your original contract came back into play.
If anyone was is asking about WW2, it was less common for people to have mortgages back then. This was due to a variety of factors. There were fewer people who owned their own homes, but there were also a larger percentage of people who owned their homes debt-free. The length of a typical mortgage was not as long back then, and banks were very reluctant to lend out money unless they were sure the borrower could afford it. A 50% required down payment on a house was very common. The draft law also gave some consideration to men who had already started families.
