Permanent changes of station (PCS) make moves frequent for military families. The complexity of buying and selling a home is compounded by deployments, one-earner incomes, and the slow-to-rebound housing market. In fact, the 2012 FINRA Military Capability Study found 38% of military families have mortgages that are underwater. So how do military families ease the burden of buying and selling a home? Fortunately, many programs are in place to assist service members and their families with this process.
The Service Member’s Civil Relief Act protects active duty service members and their families from foreclosure, termination of leases, and eviction. In the event a service member has been a victim of a wrongful foreclosure that violates the terms of the Service Member’s Civil Relief Act, they should take legal action.
Service members can also qualify for low-interest home loans using VA home loans or other special loans available to military members.
On April 15, Dr. Barbara O’Neill and Personal Finance Manager Barbara Lang will present Military Home Buying & Selling, a 90-minute webinar that will discuss these and many other home buying and selling options available to service members. This session will be worth 1.5 CEUs for AFC-credentialed participants.
To join this session, click here. Here, you’ll also find supporting resources, the PowerPoint Slides, information about the speakers, and connection information.
This post was published on the Military Families Learning Network blog on March 31, 2014.