Who is eligible for the Servicemembers Civil Relief Act (SCRA)?
The Act applies to active duty military personnel who had a mortgage obligation before enlistment or before being ordered to active duty. This includes:
– Members of the Army, Navy, Marine Corps, Air Force, Coast Guard
– Commissioned officers of the Public Health Service and the National Oceanic and Atmospheric Administration engaged in active service
– Reservists ordered to report for military service
– People ordered to report for induction (training) under the Military Selective Service Act
– Guardsmen called to active service for more than 30 consecutive days.
– In limited situations, dependents of servicemembers are also entitled to protections.
Am I entitled to debt payment relief?
The Act limits interest that may be charged on mortgages taken out by a servicemember (including debts incurred jointly with a spouse) before he or she entered into active military service. At your request, lenders must reduce the interest rate to no more than 6% per year during the period of active military service and recalculate...