Senate Proposes Military Homeowner Relief

The “American Recovery and Reinvestment Act,” most commonly known as the economic stimulus bill, has an administrative provision that would relieve military homeowners on PCS orders who are bottom up on their mortgages or otherwise suffer a significant loss on the sale of their homes. The bill would temporarily extend coverage to these groups under the Homeowners Assistance Program, which normally only applies to members whose home values are depressed by base realignments and closures. The provision would cover service-members and federal civilian employees in these categories who purchased a primary residence before July 1, 2006 and who receive PCS orders or suffered a wound, injury, or illness while deployed between that date and September 30, 2012. 

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