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Protections for servicemembers

Your military service provides you with benefits and protections that could help if you’re struggling to pay your mortgage.

Find out how servicemembers are protected by the Servicemembers Civil Relief Act

The Servicemembers Civil Relief Act (SCRA) provides legal and financial protection during military or uniformed service. These rights and protections can help you and your family weather COVID-19 related hardships.

Protection from foreclosure

If you took out a mortgage loan before entering the military, the SCRA requires your lender to get a court order to foreclose on the home while you are serving in the military and for one year after you complete your service. See more details about this protection.

Right to reduced interest on loans

Homeowners with current VA loans are eligible for an interest-rate reducing refinancing loan. This loan allows you to replace your current VA loan with a loan at a lower interest rate, as long as you currently live in or used to live in the home. Find out more about this refinancing option .

If you took out a mortgage before your military service started, and your interest rate is higher than 6 percent, you may qualify for a reduction through the SCRA. Your interest rate must be 6 percent or less during your military service and for one year after completing active service. See more details about reducing interest rates.

More SCRA protections

SCRA has additional protections that might apply to you and help your overall financial picture, including:

  • The right to cancel phone contracts without penalty
  • The right to terminate a vehicle lease without penalty
  • Protection from property repossession
  • Protection from storage unit foreclosure

Learn more about the additional protections provided by SCRA and see if you are eligible