Bill may help troops in housing market crunch

[unhappycamper]

Hurt by the housing market?
Stimulus bill might include help


Bill may help troops in housing market crunch
By Karen Jowers - Staff writer
Posted : Monday Feb 2, 2009 6:52:59 EST

With the permanent change-of-station high season around the corner, hope may be on the horizon for military homeowners sweating at the thought of trying to sell their homes — as well as those who have already taken financial hits in the dismal nationwide housing market.

A provision in the Senate Appropriations Committee version of the economic stimulus package would add about $411 million to help military homeowners caught in the housing market crisis, including wounded warriors, surviving spouses, those affected by base realignments and closures, and those forced to move on PCS orders.

Officials with the Army Corps of Engineers, the Defense Department’s executive agency for the Housing Assistance Program, are preparing to help homeowners in the expectation that the provision will become part of the final stimulus bill.

In essence, the provision would expand the current Homeowners Assistance Program beyond its current mission of helping military and civilian homeowners relocating because of a base closure or realignment.

Corps of Engineers officials expect that more than 25,000 additional people would be eligible to file claims in the next few years if the new retroactive provision becomes law.


Rest of article at: http://airforcetimes.com/news/2009/02/airforce_stimulusHAP_020109w/%2e