DoD may pay for move in landlord foreclosure

[unhappycamper]

DoD may pay for move in landlord foreclosure
By Karen Jowers - Staff writer
Posted : Friday Oct 24, 2008 6:20:16 EDT

Marine wife Betty Young felt she had to move her family soon after learning her landlord was facing foreclosure.

Even in her circumstances, she doesn’t qualify for a benefit under a new law that lets the Defense Department pay for military tenants’ moves when their landlords are foreclosed on.

The law, which is retroactive to July 30, applies only to military renters in certain situations. It does not apply to service members who own homes under foreclosure.

Young said she understood that her rented home might be going through a short sale — which is not a foreclosure, but simply a sale for less than the amount of the outstanding loan.

Short sales and other actions that stop short of a foreclosure do not appear to meet the statutory requirements for foreclosure, said Army Col. Shawn Shumake, director of legal policy in the office of undersecretary of defense for personnel and readiness.


Rest of article at: http://www.navytimes.com/news/2008/10/military_foreclosure_102308w/%2e