DoD Publishes Help for Military Families Selling Due to Transfer

DoD Publishes Help for Military Families Selling Due to Transfer
The American Recovery and Reinvestment Act (ARRA) expanded the Department of Defense's (DoD) authority to help active duty families who are having to sell their homes at a loss due to a permanent change of station (PCS). Last week, DoD published the guidance on this new program. Families with homes purchased prior to July 1, 2006 located where the market area is experiencing a decline of at least 10 percent can receive up to 90 percent reimbursement on the loss of the sale of their home based on the previous fair market value. This is increased to 95 percent for Wounded Warriors and Surviving Spouses. For full guidance on the Housing Assistance Program, visit the program website.