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Changes To 2007 Military Act Could Affect Mortgages and Auto Loans

The United States Department of Defense is considering revisions to a the Military Lending Act, begun in 2007. These revisions would give service men and women more protection in regards to lenders. It is still too early to know if these revisions will be accepted, but they could impact loans, such as automobile loans, as well as mortgages; due to the fact that they were excluded in the original 2007 enactment. Nearly $6.5 million dollars have already been refunded to servicemen and women due to banks failing to properly notify allotment fees as well as payment due dates.  Go here to learn more about auto financing for military personnel, or read the full article here:

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The author has many years of experience in automotive finance and insurance. However, each consumer's situation is unique. It is best to contact a finance specialist for further assistance.
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