What are the rules for receiving interest-free mortgages while on active duty or in combat?
Answer The Service Members Civil Relief Act protects all active-duty military families from foreclosures, evictions and other financial consequences of military service. The relief act provides a broad spectrum of protections to service members, their spouses and their dependents. The interest rate on debts incurred before enlistment, for example, must be capped at 6 percent if military duty has reduced a service member’s family income. The law also protects service members from repossession or foreclosure without a court order. It allows them to terminate any real estate lease when their military orders require them to do so. And it forbids judges from holding service members in default on any legal matter unless the court has first appointed a lawyer to protect their interests. The Texas Vet Land Board’s Housing Assistance Program has an interest-free policy for Reservists and National Guard members who are activated.
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