An extension of the 6% interest rate payment cap protects military homeowners.
Military and Veterans Code §405
Amended by AB 2476
Effective: January 1, 2013
During their military service, service members are not required to pay interest in excess of 6% on mortgages or trust deeds recorded before their service began. This 6% interest rate payment cap has now been extended to cover the year after the end of service.