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If you are in the military, your situation is unique. Postings that keep you long enough in one place that you want to own your own home but short enough to build little equity and then a transfer hundreds, perhaps thousands of miles away. Since the housing market began its slide nearly five years ago, military families have been in an even greater bind. Many were faced with homes which were no longer worth the sum which they had paid for them and were confronted with the necessity of a short sale which can cause severe damage to your credit rating.
In March of this year the White House announced revisions to some of what has become known as the Obama housing plan. Included with those changes was an increase in funding specifically designed to assist military families faced with short sales and other problems created by the lifestyle which an active military member lives. The program and the qualifications can be found on the U.S. Army Corps of Engineers website under Homeowner’s Assistance Program. On these pages you will find programs that will assist not only active military but also some retirees and certain dependents of injured or deceased military personnel. The Veteran’s Administration has more information on current programs for vets and those who have VA backed loans.
What has been dubbed the Military Homeowners Assistance Program was enhanced in part by funds from a government settlement with some of the nations largest banks and mortgage lenders after abuses called the “robo-signing scandal” were uncovered. Information for service personnel who were impacted by the activities of these banks and lenders can obtain contact information to determine if they are entitled to any redress.
If you are looking for help as you sort through the options available to you for seeking short sale help, a refinance for a VA loan, survivor benefits for spouses of military personnel, one place to turn is the LoanexFastCash. We have the experts in home mortgage financing who can help you obtain all the benefits you deserve as an active member of the military. Apply now and our professionals will contact you to see how they can assist you in whatever way they can to obtain advice and assistance on a short sale, a refinance of a conventional or VA mortgage loan.