20,000 servicemembers, vets lost homes in 2010
Foreclosure rate in zip codes near military bases increased 32%
By Gregg Zoroya - USA Today
Posted : Thursday Feb 3, 2011 22:24:48 EST
More than 20,000 veterans, active-duty troops and reservists who
took out special government-backed mortgages lost their homes
last year — the highest number since 2003.
http://www.armytimes.com/news/2011/02/usat-foreclosure-rates-on-servicemembers-increase-020311/
The rate of foreclosure filings in 2010 among 163 zip codes located near military bases rose 32 percent over 2008, according to RealtyTrac, a foreclosure research firm. This compares with a 2010 increase in foreclosures filings nationally of 23 percent over 2008.
The housing crisis has hit military families particularly hard in part because of transfers and the loss of civilian jobs left behind by reservists.
About 12,000 military families applied to the Pentagon’s
expanded Homeowners Assistance Program.
It makes up most of the difference in price for servicemembers
who must transfer and sell their homes for less than they owe,
or buys their houses outright.
“Our demand, in terms of (military) families coming to us for assistance went up 19 percent in 2010 over the previous year,” says Bill Nelson, executive director of USA Cares, a charity that provides financial assistance to Iraq and Afghanistan war-era troops.
Loans from private banks that are guaranteed by the Veterans Administration have historically outperformed other categories of mortgages, according to the Mortgage Bankers Association of America. Through programs that include mortgage counselors, the VA helped 66,000 families avoid foreclosure last year, said Mike Frueh, VA assistant director for loan and property management.
“The 20,000 could have been much higher without that help,” Frueh said.
About 9,000 of some 12,000 military families who sought assistance under the Pentagon’s Homeowners Assistance Program were found eligible, said Don Chapman, an assistant program manager with the Army Corps of Engineers, which administers the plan.
“I hear so many sad stories every day of people calling me and
telling me why they should be eligible and why we should be
helping everyone and why we should be changing these dates,”
Chapman said.
Former Air National Guard Tech. Sgt. William “Tim” Wymore nearly lost his home last year in St. Charles, Mo., after his health declined following six months in Iraq.
Weak, confined to a wheelchair and suffering chronic headaches,
Wymore, 44, was forced to quit his job as a machinist.
His wife, Shanna, left her job to care for him.
More than $1,800 in grants from USA Cares helped pay utilities and their mortgage. They managed to keep their home.
“There were points where we thought everything we had worked for was going to be gone,” Wymore said.
the khazars nwo 666 banksters bolsheviks evils fires -
rob the houses and homes from the US VETS -
same in EURO -
pray the 666 banksters gangsters will go up in smoke
by their own fires -
a small investment in the gold my be a lifesaver -
http://www.caledoniamining.com/
TIA
God Bless
Foreclosure rate in zip codes near military bases increased 32%
By Gregg Zoroya - USA Today
Posted : Thursday Feb 3, 2011 22:24:48 EST
More than 20,000 veterans, active-duty troops and reservists who
took out special government-backed mortgages lost their homes
last year — the highest number since 2003.
http://www.armytimes.com/news/2011/02/usat-foreclosure-rates-on-servicemembers-increase-020311/
The rate of foreclosure filings in 2010 among 163 zip codes located near military bases rose 32 percent over 2008, according to RealtyTrac, a foreclosure research firm. This compares with a 2010 increase in foreclosures filings nationally of 23 percent over 2008.
The housing crisis has hit military families particularly hard in part because of transfers and the loss of civilian jobs left behind by reservists.
About 12,000 military families applied to the Pentagon’s
expanded Homeowners Assistance Program.
It makes up most of the difference in price for servicemembers
who must transfer and sell their homes for less than they owe,
or buys their houses outright.
“Our demand, in terms of (military) families coming to us for assistance went up 19 percent in 2010 over the previous year,” says Bill Nelson, executive director of USA Cares, a charity that provides financial assistance to Iraq and Afghanistan war-era troops.
Loans from private banks that are guaranteed by the Veterans Administration have historically outperformed other categories of mortgages, according to the Mortgage Bankers Association of America. Through programs that include mortgage counselors, the VA helped 66,000 families avoid foreclosure last year, said Mike Frueh, VA assistant director for loan and property management.
“The 20,000 could have been much higher without that help,” Frueh said.
About 9,000 of some 12,000 military families who sought assistance under the Pentagon’s Homeowners Assistance Program were found eligible, said Don Chapman, an assistant program manager with the Army Corps of Engineers, which administers the plan.
“I hear so many sad stories every day of people calling me and
telling me why they should be eligible and why we should be
helping everyone and why we should be changing these dates,”
Chapman said.
Former Air National Guard Tech. Sgt. William “Tim” Wymore nearly lost his home last year in St. Charles, Mo., after his health declined following six months in Iraq.
Weak, confined to a wheelchair and suffering chronic headaches,
Wymore, 44, was forced to quit his job as a machinist.
His wife, Shanna, left her job to care for him.
More than $1,800 in grants from USA Cares helped pay utilities and their mortgage. They managed to keep their home.
“There were points where we thought everything we had worked for was going to be gone,” Wymore said.
the khazars nwo 666 banksters bolsheviks evils fires -
rob the houses and homes from the US VETS -
same in EURO -
pray the 666 banksters gangsters will go up in smoke
by their own fires -
a small investment in the gold my be a lifesaver -
http://www.caledoniamining.com/
TIA
God Bless
My opinions are my own and and DD I post should be confirmed as unbiased
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