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Servicemembers Civil Relief Act

Do you have a VA loan? Having trouble meeting your rent or mortgage payments? You may be able to find help with the Servicemembers Civil Relief Act.

On 19 December 2003, President Bush signed into law the “ Servicemembers Civil Relief Act ” (SCRA). This law is a complete revision of the Soldiers’ and Sailors’ Civil Relief Act (SSCRA) which provided a number of significant protections to servicemembers.

While protecting the United States during the war on terrorism, some servicemen and servicewomen may face difficulty in meeting certain financial obligations at home, such as rent or mortgage payments, if they are activated for military duty. HUD has taken steps to ensure that service members protecting our country do not suffer the added burden of worrying about the loss of a home.

The protections and benefits SCRA provides for service members and their families such as:

• Mortgage Relief
• Termination of Leases
• Protection from Eviction.
• 6-Percent Cap on Interest Rates
• Stay of Proceedings
• Reopening Default Judgments

Veteran borrowers may be able to request relief pursuant to the Service Members Civil Relief Act ( SCRA). In order to qualify for certain protections available under the Act, his or her obligation must have originated prior to the current period of active military service. SCRA may provide a lower interest rate for up to one year and provide forbearance or prevent foreclosure or eviction up to nine months from period of military service.

The SCRA actually provides many more protections than those listed above, and the Supreme Court has ruled the SCRA must be read with “an eye friendly to those who dropped their affairs to answer their country’s call.” Contact your local military legal assistance attorneys to provide guidance on the SCRA .

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