The Department of Defense will be helping its own to keep their homes. It says it will temporarily expand its Homeowners Assistance Program. Using $555 million in stimulus act funds, this program partially reimburse eligible military personnel, surviving spouses, and federal civilian employees whose service to the nation has required them to relocate and sell their primary residence at a loss.
Potential eligible personnel include active and former service members of the Army, Navy, Marine Corps, Air Force, and Coast Guard; civilian employees of the DoD, Coast Guard, and non-appropriated fund activities; and surviving spouses of both fallen service members and civilian employees.
Through this program, the department has provided assistance mainly at base realignment and closure sites where government action caused a decrease in market home values. The Defense Department says while it does not cover 100 percent of a home’s lost value, it can help protect their workers and their families from financial catastrophe due to significant losses in their home values.