Give military a break, says HUD
From staff and wire reports
The Department of Housing and Urban Development last week reminded all FHA-approved lenders that they must comply with the Soldiers’ and Sailors’ Civil Relief Act of 1940.
That law mandates that military personnel on active duty in wartime be entitled to mortgage relief, including a lower interest rate (6%) on their mortgages.
The letter to lenders stressed that all available options must be considered.
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