A reservist is called to active duty for 6 months starting next month. They have an existing mortgage with a 7.5% interest rate that was originated 2 years ago. When can they request the SCRA interest rate reduction?
Correct Answer
B) Only after active duty service actually begins
Under SCRA Section 207, the servicemember must be on active duty when making the request for interest rate reduction. Receiving orders for future active duty does not trigger SCRA protections until the active duty service actually commences.
Why This Is the Correct Answer
Under SCRA Section 207, the servicemember must be on active duty when making the request for interest rate reduction. Receiving orders for future active duty does not trigger SCRA protections until the active duty service actually commences.
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