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#1689191 - 04/16/12 07:30 PM Interest Rate Reduction
CaseyBoo30 Offline
Gold Star
Joined: Feb 2007
Posts: 262
Winchester, KY
Am I correct in my thinking that under the SCRA it is the responsibility of the servicemember to request the interest rate reduction and provide copies of orders and not the lenders responsibility to ask?

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#1689216 - 04/16/12 08:07 PM Re: Interest Rate Reduction CaseyBoo30
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,159
Bloomington, IN
Yes. Section 527 of the SCRA.
The opinions expressed are mine and they are not to be taken as legal advice.

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#1689858 - 04/18/12 03:02 PM Re: Interest Rate Reduction CaseyBoo30
Andy_Z Offline
10K Club
Joined: Oct 2000
Posts: 27,651
On the Net

Because of the extended period the SM has to request this protection, if you believe they are eligible you can nudge them so they know what is needed, and if they want to request it. Doing this now may be easier than calculating the refund months or years later.
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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