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#57662 - 01/29/03 06:40 PM SSCRA
HR Banker Offline
Diamond Poster
Joined: Oct 2002
Posts: 1,027
Upon termination of active duty or military status does the interst rate go back to what it was prior to the SSCRA reduction or does it go to the current loan rate?

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#57663 - 01/29/03 06:43 PM Re: SSCRA
Anonymous
Unregistered

Unless the loan has a variable rate feature, the rate would be adjusted back to its rate of interest prior to relief under SSCRA.

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#57664 - 01/29/03 07:24 PM Re: SSCRA
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,485
On the Net
I agree with Anon. Your contractual rate of interest is applied from the termination forward. Technically, I would make it the day after termination, forward.
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