Department of Defense to Pay for Moves Caused By Landlord Foreclosures
According to an article recently published in the MarineCorpsTimes, following the signing of a new law, the Department of Defense may pay for moving expenses of military tenants if their landlords are facing foreclosure. Many military tenants are finding it difficult to adhere to the terms of the law, however.
One Marine wife, Betty Young, whose rented home would soon be up for a short sale, was told she was not able to receive moving assistance from the DoD because short sales do not fall under the same statutory requirements as foreclosures. Short sales are simply sales that are less than the total amount of the outstanding loan. The Department of Defense doesn't cover these kinds of sales.
The law also does not apply to service members owning homes that are under foreclosure. The Navy issued guidance on the law and how to decide, prior to applying for aid, if your situation falls under the guidelines. Other military sectors will follow this process to better serve military families finding themselves in foreclosure situations.
MilitaryConnection.com offers the most up-to-date military finance articles on the web. We constantly update our information to include the most relevant military news. As such, we will happily post your press releases, newsletters, professional conferences and more to increase visibility. There is something for everyone on MilitaryConnection.com. Everything here is free to users. From our extensive job board to our virtual job fair, we offer a multitude of resources for military and veteran job seekers. Surf our directory of employers that consists of over 30,000 employers, read the latest job tips and columns written by job experts or post a job yourself by signing up as an employer. Along with career and finance articles, MilitaryConnection.com offers a great amount of informational resources on education benefits for military members, veterans and their families, like the Post 9/11 GI Bill. Check out our scholarship directory for the latest scholarship opportunities available to military and veterans. For all your military needs, visit MilitaryConnection.com, your “go-to” site for everything military.