New laws provide housing assistance for military members

  • Published
  • By 509th Bomb Wing
  • Judge Advocate
WHITEMAN AIR FORCE BASE, Mo. --  New programs are available to protect military members hurt by falling home prices. 

The economic crisis has caused housing prices to fall nationwide and the government wants to assist military members who are required by the military to relocate. 

Military members who are ordered to make a Permanent Change of Station move may apply for the government to buy their home or reimburse them for loss of equity when selling their home. 

To qualify for the PCS protection provisions of the new law, military members must satisfy the following requirements: 

· Permanent reassignment requiring move of more than 50 miles
· Reassignment ordered between Feb. 1, 2006 and Sept. 30, 2012
· Contract signed to purchase the property before 1 July 2006
· Property sold by owner between July 1, 2006 and Sept. 30, 2012
· Property was the primary residence of the owner
· Owner has not previously received these benefit payments. 

Under the new program, called the Department of Defense's Homeowners Assistance Plan, the government may cover 95 percent of a loss if military members are forced to sell or abandon their primary residence. 

The government can also purchase the home by paying off the unpaid mortgage or reimbursing the owner up to 90 percent of the home's previous value. This program also assists members affected by a base closure, a combat wound or combat fatality. 

Homeowners who qualify for the program should submit applications as soon as possible through http://hap.usace.army.mil. Applications will begin processing by approximately mid-April 2009. 

Additionally, military members who are struggling with subprime loans or other types of high-interest mortgages may be able to refinance with a Veterans Administration loan. Military members may call the VA's toll-free number at 1-877-827-3702 for information about this benefit. 

Active duty and retired military members and their dependants may contact the Whiteman legal office for legal assistance on these programs by calling 687-6809.