Questions & Answers for Reservists, Guardsmen and Other Military Personnel
Here is a link to HUD's questions and answers for reservists, guardsmen and other military personnel regarding mortgage payment relief and protection from foreclosure provided by the Servicemembers Civil Relief Act (SCRA, formerly known as The Soldiers' and Sailors' Civil Relief Act of 1940):
http://www.hud.gov/offices/hsg/sfh/nsc/qasscra1.cfm
The Q&A covers:
Who Is Eligible?
Am I Entitled To Debt Payment Relief?
Is The Interest Rate Limitation Automatic?
Am I Eligible Even if I Can Afford To Pay My Mortgage At A Higher Interest Rate?
What If I Can't Afford to Pay My Mortgage Even At the Lower Rate?
Am I Protected against Foreclosure?
What Information Do I Need To Provide To My Lender?
Will My Payments Change Later?
Will I Need To Pay Back The Interest Rate "Subsidy" At A Later Date?
How Long Does The Benefit Last? Does The Period Begin And End With My Tour Of Duty? |
How Can I Learn More About Relief Available To Active Duty Military Personnel?
For more details about the SCRA, read this article describing the Servicemembers Civil Relief Act.
Servicemembers who have questions about the SCRA or the protections that they may be entitled to may contact their unit judge advocate or installation legal assistance officer. Dependents of servicemembers can also contact or visit local military legal assistance offices where they reside. A military legal assistance office locator for each branch of the armed forces is available at http://assistance.law.af.mil/
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