Thursday, August 14, 2008

Military To Pick Up Moving Tab For Servicemembers Renting From Landlords In Foreclosure

In Washington, D.C., Air Force News reports:
  • A new change to the Joint Federal Travel Regulations authorizes the military to pay to move servicemembers and their families whose landlords default on property the military members are renting. [...] The change is retroactive to July 30, the date President Bush signed the Housing and Economic Recovery Act of 2008. [..] The federal regulation change is designed to help military servicemembers forced to relocate locally when landlords default on their mortgages, [a spokeswoman] said. It does not apply to military members who own their own homes and default on their loans.

For more, see Travel regulation change protects renters whose landlords default.

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