These protections allow options such as the ability to reduce interest rates on home loans to a maximum of 6% and to terminate preservice home and automobile leases
For example, the new SCRA Guide addresses the SCRA's significant expansion of protections to servicemembers who need to terminate residential and automobile leases
, (10) the SCRA's straightforward clarification of the application of the six percent interest rule to servicemember debts, (11) and the SCRA's extension of protections to National Guard Soldiers serving on active duty in Title 32 status for more than thirty consecutive days in response to a presidential declaration of national emergency.
Similarly, household financial obligations, a broader measure that includes debt service as well as contractual payments for such things as automobile leases
, rents, homeowners' insurance, and property taxes, is relatively high at nearly 18% of disposable income.
Service members may terminate automobile leases
upon receipt of PCS or deployment orders.
14) Because of this shift, a measure of financial obligations that excludes automobile leases
understates increases in consumers' required automobile finance payments.
Nonrecurring expenses exclude unnecessary expenses, such as country club dues, automobile leases
for nonemployee family members and season tickets to sporting events.
Servicemembers are allowed to terminate their automobile leases
when called to periods of active duty in excess of 180 days.
13) A recent article provided an interesting list of the political expenditures recently made from political organization funds, including costs for Mardi Gras parties for every member of the Louisiana delegation, expensive automobile leases
and the down payment on an office building for a "headquarters" for other Members of Congress; see Chen, "Congress' Big Fund-Raisers Get Down to Business--Literally," L.
32) Servicemembers may cancel pre-service automobile leases
if the servicemember receives orders to active duty for a period of one hundred and eighty days or more.