Page:Servicemembers Civil Relief Act Notice.pdf/1

This page has been proofread, but needs to be validated.

Servicemembers Civil Relief Act

The Servicemembers Civil Relief Act is intended to ease the economic and legal burdens on military personnel during their active service.




Mortgage Protections
Military members who are called up to active duty may be able to request mortgage relief pursuant to the SCRA. The Act may provide for a lower interest rate, or prevent foreclosure or eviction for up to nine months following the period of military service.

Qualification
In order to qualify for certain protections available under the Act, the borrower must request protection under the Act, and the loan must have originated prior to the current period of active military service.
Contact Information
If you have questions about SCRA, you can either contact your lender directly, or reach a trained VA counselor at your nearest VA Regional Loan Center toll-free at 877-827-3702.



Additional Protections
The Department of Defense has detailed some of the most common forms of protection in a publication posted online at defense.gov/documents/mobil/pdf/scra_info-paper.pdf. Some of these protections are:
  • 6% Cap on Interest Rates
  • Termination of Leases
  • Protection from Eviction
  • Stay of Proceedings
  • Reopening Default Judgments