Since the 1960s, the U.S. Defense Department has had in place a housing program to help military service members. In and through the fiscal stimulus of 2009, this housing program was expanded by Congress to include military members who are reassigned to a new base and own their home on which they owe more than the home is worth. Wounded soldiers and spouses of fallen soldiers were also included in the 2009 expansion.
Since the expansion of the housing program, the federal government has been able to provide relief to 7,000 service members who were reassigned. The relief given largely went above and beyond the approved $855 million by Congress by paying out more that $1.1 billion. Those who received relief were partially reimbursed for their losses for as much as 90%. The government bought 2,500 homes.
However, the program maybe coming to an end even though the housing-market remains in chaos in many military communities including the communities near military bases in Jacksonville, Florida; Southern California; and Dayton, Ohio. The program is not suppose to end until September 30, 2012, but is already in a profound deficit. Additionally, there is not a lot of support coming from Washington to continue the expanded program with Washington's current focus on trying to cut down the federal government's spending. The Obama administration has not requested any new money for the remaining 2012 fiscal-year.
If you are a military service member in Jacksonville, Florida, contact a Florida Foreclosure Lawyer or a Florida Foreclosure Defense Lawyer today for a free case review to evaluate your foreclosure defense options.
