Answer:
If the service member is liable on the note, the type of real estate standing as security for the note is irrelevant: the 6% cap on interest applies.
First published on BankersOnline.com 1/16/12
Provisions of Service Members Civil Relief Act
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Question:
Do the provisions of the Servicemembers Civil Relief Act on maximum interest rate apply to a service member's non-owner occupied 5-family rental property?
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