I have a 12% note that has been reduced to a 6% note by way of the SSCRA (ex spouse). Covers the ex's 1/2 of a 2nd mortgage, but I cannot assert SSCRA because his name isn't on the debt -- just a note to me. Question, can I just defer the debt in its entirety, without adding any interest - just push it back till after he gets off active duty? Any info would be helpful. I know I'm not a financial institution, but found your link.
luhlar@aol.com

I'm not sure I understand the whole question. I'm confused by the 1/2 part.

If the service member is on the obligation (note), it should go to 6% and watch out for any fees that may also be "interest" under SSCRA. You can't reduce a proportionate share.

As to defering the debt in its entirety, good question. If you defered the entire payment stream you'd protect your earnings estimates, but would have a nonperforming loan in the interim. What if the service member takes an extended tour. Are you prepared to have a nonperformer for 3, 6, maybe 10 years? The customer could decide they like the service and reenlist.

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Andy Zavoina
Opinions stated are not necessarily that of my employer.