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.
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