Coronado real estate expert Corey Simone gives her advice on the housing market each week in The Coronado News. Photo courtesy of Corey Simone.

A significant portion of Coronado is made up of active duty, retired military and U.S. veterans. 

In fact, the United States Census Bureau estimates that Coronado had 2,104 veterans in its 2022 population numbers, and it is estimated that 30 to 35% of the island is made up of active duty and retired military. 

A military jeep drives down the parade route in Coronado on July 4. Staff photo by Madeline Yang.

Considering that there are many military families and U.S. veterans living on the island, I wanted to provide my readers with insight into the Military and Veteran Consumer Protection Act of 2022, which has specific implications for mortgages and deeds of trust.

What is the Military and Veteran Consumer Protection Act of 2022?

At its heart, this act serves to protect active duty military and veterans from businesses or individuals who use unfair competition, or deceptive advertising, against service members and their families. 

This could be anything from consumer scams to unfair business practices that target service members. 

Anyone who violates this law will be liable for an additional civil penalty of $2,500. 

What are the provisions?

When it comes to property, this act provides three specific provisions for military veterans, specifically concerning mortgages and deeds of trust. Here are the provisions:

  1. Already existing prior to this act, the law authorizes a servicemember to defer payments on a mortgage or deed of trust while they are called to active duty. No court order is  required. 
  2. This act adds a contingency: Deferred mortgage payments for active duty service members are not due at the maturity of the obligation, or rather the date in which the contract ends. The payment will instead be due either with the sale of the property or with an encumbrance of the property outlined in the terms of the contract. 
  3. Lastly, this act protects all military members who deferred their mortgages or deeds of trust from foreclosure or repossession of their property, unless because of a court order or agreed upon by all parties. 

How Senate Bill No. 1311 helps the military

With the Military and Veteran Consumer Protection Act of 2022, service members are provided a little bit more of a buffer when it comes to deferring mortgages and deeds of trust should you be called to active duty. This also applies to U.S. military Reserve officers. 

I would encourage you to take a look at Senate Bill No. 1311 for more legal information regarding the protection of all military members. 

As always, I am here to make sure the residents of Coronado are in the loop about the California laws that directly affect their livelihood and homes. But more importantly, informing the brave men and women that put their lives on the line for all of us. 

Where to call for guidance

In the ever-evolving world of real estate, staying informed on the most recent legislative updates is key to maximizing the benefits of homeownership. 

Corey Simone (shown here) is one of the most dedicated real estate agents in Coronado, according to longtime agent Scott Aurich.

Should you have any questions or need further guidance on your homeownership journey, please don’t hesitate to reach out. Reach me at 619-568-0568 or

I am always here to help and support you in making informed decisions that align with your financial goals.


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