Washington, DC – March 15, 2010 – (RealEstateRama) — Rep. Ben Ray Luján has cosponsored legislation to help military homeowners who have had to relocate to a new base and sell their homes during a downturn in the housing market. In Curry County and the surrounding area, many Cannon airmen and their families have faced hardships when selling their homes to relocate to Cannon Air Force Base as the base expands to meet its new Special Operations mission.
“When soldiers are relocated to meet a new mission, they often face hardships,” said Rep. Luján. “One particularly difficult hardship is when a family must sell their home during a downturn in the housing market. We have seen lower housing prices across the country over the past several years, which have hurt people who are moving to meet Cannon Air Force Base’s new mission. We must provide greater flexibility for those who are forced to sell their homes during the steep downturn of the housing market.”
The legislation, sponsored by Rep. Dina Titus of Nevada, will amend the Homeowners’ Assistance Program of the Department of Defense to give the Secretary of Defense flexibility regarding setting the commencement date for homeowner assistance for members of the Armed Forces permanently reassigned during the mortgage crisis. Under current law, homeowners who have to sell their home because of military reassignment must have purchased their home by July 1, 2006 in order to qualify for assistance. The extended downturn in the housing market means that many who purchased their home after this date face difficulty when selling their home to relocate.
