{"id":6261,"date":"2018-02-22T02:55:01","date_gmt":"2018-02-22T02:55:01","guid":{"rendered":"http:\/\/www.realestatewords.com\/?page_id=6261"},"modified":"2018-02-22T02:55:01","modified_gmt":"2018-02-22T02:55:01","slug":"military-indulgence","status":"publish","type":"page","link":"https:\/\/www.realestatewords.com\/military-indulgence\/","title":{"rendered":"Military Indulgence"},"content":{"rendered":"<p>A civilian borrower who later enters the military is entitled to Military Indulgence granted under the terms of the Servicemembers Civil Relief Act. There are two components of this provision:<strong>Interest Rate Reduction: FNMA (Fannie Mae)\u00a0<\/strong>policy requires a reduction in the interest rate from the time the borrower begins active duty to the date of release at the current rate of 6% (rate may be subject to change). This benefit is retroactive should the borrower notify the lender sometime after beginning active duty.\u00a0<strong>Additional Forbearance<\/strong>: In certain cases related to the financial hardship usually associated with the loss of greater civilian pay the veteran may request special consideration in the form of a reduction in the monthly mortgage. The difference between the original monthly mortgage amount and the reduced payment is referred to as \u201c\u201darrearage\u201d&#8221;. Upon release from active duty the borrower would be responsible for bringing the arrearage current.\u201d&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A civilian borrower who later enters the military is entitled to Military Indulgence granted under the terms of the Servicemembers Civil Relief Act. There are two components of this provision:Interest Rate Reduction: FNMA (Fannie Mae)\u00a0policy requires a reduction in the interest rate from the time the borrower begins active duty to the date of release [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/pages\/6261"}],"collection":[{"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/comments?post=6261"}],"version-history":[{"count":0,"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/pages\/6261\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/media?parent=6261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}