Military homeowners benefit from stimulus package on clarkhoward.com

It's hard for Clark to find much that he likes about the $787 billion stimulus package. But there is at least one benefit for military homeowners not being widely reported.

Military families that have sacrificed so much frequently face the added burden of having to move posts every 3 years or so. That means buying a home at each duty station and selling the home at your previous post.

The stimulus package actually offers compensation for those who are forced to sell at a loss -- for up to 95% of that loss. This applies to your primary residence purchased before July 1, 2006.

Why that specific date? That's the generally accepted marker at which housing is considered to have peaked in the United States.

Meanwhile, the government can also underwrite the cost of buying a house up to 90% of the home's previous value under a separate provision of the stimulus package.

The Washington Post has a detailed story that fleshes out additional information.

And the cost of these provisions? The best guesstimate puts it at $555 million, an amazingly minor sum that's just a fraction of 1% of the total package.

The consumer champ is glad he has something positive that he can report about the stimulus package. This is one ornament on the Christmas tree that he can believe in!

Have further questions? See this FAQ list.

What others are saying

No Military Help
Clark,
I am disappointed you spoke glowingly of the military assistance pgm. It is a sham. It really leaves many out and as many have pointed out, the 1 Jul 09 date is BS as the PCS season lasta ll summer. Please vet these programs a little better before praising them.
By C @ 07/23/09 09:32:30 PMreport abuse
Help One Another
Only Tim on 3/10/09 offered actual assistance to readers, Thank you for helping her. anyone who's filed a claim report process to help one another.
By Military Home Owner Va Beach Va @ 05/05/09 04:07:17 AMreport abuse
Military Home Owners
The 2006 deadline may be when housing peaked. But all of us in the military know that it is actually a cutoff that cuts-out most families because we move every 2 to 3 three years. By doing this they got kudos for helping the military without really helping. Because most who bought before 2006 have ALREADY MOVED! On a side note if you look at the original wording of the stimulus package it didn't limit it to prior to 2006. Hence when the final package was signed it had magically been changed to read "prior to 2006" ahah! Oh yeah and although the wording changed the amount calculated (asked for)did not. So where is the extra money going? The crooked way they did this is quite disturbing.
By Army Spouse @ 03/22/09 09:17:22 PMreport abuse
nobody understands...
except those of us who have "been there". We bought a house prior to the dealine, but have moved TWICE since then! We do have renters, who never pay on time. We have depleted our savings accounts, retirement accounts and have even borrowed money from my mother in order to make our payments on time.
Another point, someone previously mentioned living places 3 or 4 years...I haven't lived ANYWHERE for more than 24 months in the last 12 years. I don't KNOW anyone in the military who lives now where they did in 2006. I'm sure they are out there..but I don't personally know anyone.
Being in the military is calling like being a firefighter, or police officer, or priest. We did NOT get into this for the money (Jerry). My husband felt the call to serve his country, and raised his right hand and swore to follow orders, whether he agrees with them or not. It's a commitment that too many people in our society are too selfish to make. My husband did, and our family has sacrificed money, time, and relationships so that he could keep that commitment. What have you given up, Jerry? Nothing much, I'm sure.
By Proud Army Wife @ 03/18/09 07:44:09 PMreport abuse
loopholes to drive a truck through
I know Congress is patting themselves on the back that they helped the military, but the July 1st date exceludes too many people and you have to still be living in the house. There is a good chance that if you were a summer PCS, you've bout after July 1, 2006, or PCS'd the year before and have already moved and been hit hard financially. Most PCS occur late summer, so most miltary due to move now, bought after July 1st!
By Tim @ 03/12/09 12:15:08 PMreport abuse
Living in the Miltary
It is said to hear someone like Jerry speak, for he trully knows nothing about what he speaks. To comment on a statement that Eddie made, unfortunately people in higher places have decided to priviatize the housing. So somewhere someone is making tons of money off of this. They take all of our housing money and then turn and charge for excess utility usage based upon an average set by them. I don't agree with it, so I choose to live in an apartment a little bit bigger than a dorm room in college. I think it is great that the government is trying to help people, but what about those who chose to buy a house after that day, and have been caught off guard by a move do to reallignment of duties to other bases. I know there are several houses outside the gates that are for sale and the people are taking less than decent buyouts just so they can sell. I think this should be expanded to all of us serving. Thanks to those who support us and even to those who don't. Im proud to serve.
By Sgt B @ 03/10/09 03:07:54 PMreport abuse
Military Homeowner
the Housing Assistance Program is run by the Corp of Engineers for all branches of the military.
BRAC is the original reason for this program. Your base BRAC office should have the details, but you can start here for information
http://hap.usace.army.mil/
By Pat @ 03/10/09 01:23:09 PMreport abuse
How do you apply
I purchased my home before the cut off date and currently have it up for sale. If i get less than what I paid or the value. How do I make a claim
By Jeff @ 03/10/09 10:47:54 AMreport abuse
Military Homeowner package
I'm being forced to move via a Base Realignment and Closure (BRAC)as an active duty military member. My home is worth $80,000.00 less than what I puchased for. The Military Homeowner package I do not qualify for as I bought in September 2006 which is after the July 2006 deadline. Why the July 2006 deadline?
By Rick @ 03/08/09 03:02:53 PMreport abuse
Honesty/dishonesty
It's about time we brought in a nationalized standard for the way that homes are valued and thw way that offers of home loans are presented and compared against national, regional and local averages so that even the least smart buyers can see to what extent they are being ripped off. Because rip-off merchants are at the heart of the problem here, not honest operators.
By Martha @ 03/07/09 05:23:14 PMreport abuse
Bob
Jery's picking a fight with the wrong target, but the Iraq war was wrong. Hundreds of thousands of men, women and children have died - some people believe close to a million people and four million more have had to flee their homes, for wha?? So that they can have a ballot every couple of years in return for no electricity and no jobs? What a disaster. Not to mention that it cost us four thousand young men and about three and a half trillion dollars. I don't blame our soldiers one bit. But we're going to have to live with the shame of that for the rest of our lives. It's no wonder the world is relieved to see that we have a new president and - finally - a new direction. Thank God.
By Emory @ 03/07/09 02:11:43 AMreport abuse
Re: Martha again
Yes,the largely unregulated mortgage originators started the landslide. Fannie and Freddie made the problem bigger by changing their policy and beginning to buy these loans, and Wall st wrapped it all up in a neat little package that turned out to be a ticking time bomb.
As for the military members, if there is one group that deserves a bailout on this, it is them, after the way they have misused the last ten years. What a horrible decade!
By blackbird13 @ 03/07/09 01:07:58 AMreport abuse
Jerry
Only a fool like Jerry can make such statements about those of us in the military. However, while it seems Jerry is educated and values education for his children he only sees what he wants to and has never seen how others live around the world to fully understand that freedom is not free and is something that has to be won through the blood, sweat and tears of others willing to make the sacrifice. Jerry seems to be a peace loving person, but I wonder how he would react if that peace was threatened. Who would Jerry call on to save that freedom when words are not enough? Jerry, I recommend you educate yourself a little more about the military, the soldiers that serve, and what our mission is before you pass judgment on us. The sacrifices of our soldiers and their families are great and we help people around the world that we don’t even know. What have you done for those that do not have the same freedoms as you? How many lives have you touched around the world? How many lives in third world country have you saved from oppression? Our military does these things and more every day.
By Bob @ 03/07/09 12:44:24 AMreport abuse
What's interesting...
...is that nobody has yet pointed the finger at the slick, slippery mortgage brokers who, in cahoots with their sidekicks the property valuers, made so many of these mortgages and property sales happen based on barely believable financial positions and outlooks of their clients including many military people. I'd like to see these sharp operators looked at closely. I think they have a lot to answer for. They reassured a lot of very well-intentioned people that they could manage debt that was in reality probably not manageable in my opinion.
By Martha again @ 03/07/09 12:31:40 AMreport abuse
In my day...
Back in the day, there used to be military housing supplied more or less thoughout one's career. Perhaps we should bring that back and allow our miliraty to build up savings thoughout their careers to purchase a property when they retire from service.
By Eddie @ 03/06/09 11:40:00 PMreport abuse
Jerry
Hey Jerry! From a military spouse here is my advice for you. Go ahead and keep saying what you want. It is your freedom that our military provides for your family and your right to make such idiotic statements. Move to Iraq if you dont like your freedom. Maybe a year in a country that is not free will make you stop saying senseless statements. You will not be missed if you move. Bye Bye Jerry and dont come back to America home of the brave....
By Lori @ 03/06/09 11:07:55 PMreport abuse
To Jerry
hahahahahahahhhahaha Jerry that was so funny!!!
By Shawn @ 03/06/09 10:59:51 PMreport abuse
Military Homeowners
More to the point... Clark used to recommend home ownership to folks that could commit six or seven years to living in the house that they bought. Seems like good advice in hindsight, doesn't it? Maybe home ownership simply isn't a good prospect for folks who are on the move every two or three years. Seems that Clark thought not (at least at one time if my memory serves correctly. Obviously, I don't speak for him.) Good luck to you all - Martha.
By Martha @ 03/06/09 10:52:38 PMreport abuse
Jerry
I can't believe you said such a thing. Thank God for the Military and the people that are willing to join to defend our Freedom. Go try living in Cuba if you don't think Freedom is worth fighting for.
By Another Pat @ 03/06/09 03:42:21 PMreport abuse
Military Homeowner
Jerry,
My Salary is fine thank you. I like many other military people got caught in a squeeze that was caused in large part by a poor government policy encouraging loans to people not based on ability to pay them back but on social factors. FANNIE and FREDDIE lead the charge and I like many others are collateral damage of this poor policy.

Sleep well knowing that I like many others are willing to give our lives to protect your right to make foolish statements.
By Pat @ 03/06/09 02:31:33 PMreport abuse
Military Homeower
I think it should be good for the moral of Solders who has chosen the military as a career.To the person who made the comment about Solders should have chosen another career.This person has nothing for which he is willing to fight,nothingwhich is more important than his own personel safety, is a miserable creature,and has no chance of being free unless made or kept so by the exertions of better men then himself.
By SGT Moore @ 03/06/09 02:19:27 PMreport abuse
Military Homeowner
If you didn't want to earn a dismal salary and get shot at for a living, perhaps you should have chosen another career? You did have a choice, you know.
By Jerry @ 03/06/09 12:54:19 PMreport abuse
Military Homeowner
While it is nice of the Congress to offer relief to those of us thathave to move every 3 or 4 years 90% of the purchase price. If you have a 200,000. house means that I have to take a 20,000 loss. While it is nice it not as good a deal as some people who should never have bought a house are getting. If the Congress really wanted to help the military members then they should have offered 100% of the purchase price.
By Pat @ 03/06/09 06:34:57 AMreport abuse

No Military Help

Clark,
I am disappointed you spoke glowingly of the military assistance pgm. It is a sham. It really leaves many out and as many have pointed out, the 1 Jul 09 date is BS as the PCS season lasta ll summer. Please vet these programs a little better before praising them.

By C @ 07/23/09 09:32:30 PMreport abuse

Help One Another

Only Tim on 3/10/09 offered actual assistance to readers, Thank you for helping her. anyone who's filed a claim report process to help one another.

By Military Home Owner Va Beach Va @ 05/05/09 04:07:17 AMreport abuse

Military Home Owners

The 2006 deadline may be when housing peaked. But all of us in the military know that it is actually a cutoff that cuts-out most families because we move every 2 to 3 three years. By doing this they got kudos for helping the military without really helping. Because most who bought before 2006 have ALREADY MOVED! On a side note if you look at the original wording of the stimulus package it didn't limit it to prior to 2006. Hence when the final package was signed it had magically been changed to read "prior to 2006" ahah! Oh yeah and although the wording changed the amount calculated (asked for)did not. So where is the extra money going? The crooked way they did this is quite disturbing.

By Army Spouse @ 03/22/09 09:17:22 PMreport abuse

nobody understands...

except those of us who have "been there". We bought a house prior to the dealine, but have moved TWICE since then! We do have renters, who never pay on time. We have depleted our savings accounts, retirement accounts and have even borrowed money from my mother in order to make our payments on time.
Another point, someone previously mentioned living places 3 or 4 years...I haven't lived ANYWHERE for more than 24 months in the last 12 years. I don't KNOW anyone in the military who lives now where they did in 2006. I'm sure they are out there..but I don't personally know anyone.
Being in the military is calling like being a firefighter, or police officer, or priest. We did NOT get into this for the money (Jerry). My husband felt the call to serve his country, and raised his right hand and swore to follow orders, whether he agrees with them or not. It's a commitment that too many people in our society are too selfish to make. My husband did, and our family has sacrificed money, time, and relationships so that he could keep that commitment. What have you given up, Jerry? Nothing much, I'm sure.

By Proud Army Wife @ 03/18/09 07:44:09 PMreport abuse

loopholes to drive a truck through

I know Congress is patting themselves on the back that they helped the military, but the July 1st date exceludes too many people and you have to still be living in the house. There is a good chance that if you were a summer PCS, you've bout after July 1, 2006, or PCS'd the year before and have already moved and been hit hard financially. Most PCS occur late summer, so most miltary due to move now, bought after July 1st!

By Tim @ 03/12/09 12:15:08 PMreport abuse

Living in the Miltary

It is said to hear someone like Jerry speak, for he trully knows nothing about what he speaks. To comment on a statement that Eddie made, unfortunately people in higher places have decided to priviatize the housing. So somewhere someone is making tons of money off of this. They take all of our housing money and then turn and charge for excess utility usage based upon an average set by them. I don't agree with it, so I choose to live in an apartment a little bit bigger than a dorm room in college. I think it is great that the government is trying to help people, but what about those who chose to buy a house after that day, and have been caught off guard by a move do to reallignment of duties to other bases. I know there are several houses outside the gates that are for sale and the people are taking less than decent buyouts just so they can sell. I think this should be expanded to all of us serving. Thanks to those who support us and even to those who don't. Im proud to serve.

By Sgt B @ 03/10/09 03:07:54 PMreport abuse

Military Homeowner

the Housing Assistance Program is run by the Corp of Engineers for all branches of the military.
BRAC is the original reason for this program. Your base BRAC office should have the details, but you can start here for information
http://hap.usace.army.mil/

By Pat @ 03/10/09 01:23:09 PMreport abuse

How do you apply

I purchased my home before the cut off date and currently have it up for sale. If i get less than what I paid or the value. How do I make a claim

By Jeff @ 03/10/09 10:47:54 AMreport abuse

Military Homeowner package

I'm being forced to move via a Base Realignment and Closure (BRAC)as an active duty military member. My home is worth $80,000.00 less than what I puchased for. The Military Homeowner package I do not qualify for as I bought in September 2006 which is after the July 2006 deadline. Why the July 2006 deadline?

By Rick @ 03/08/09 03:02:53 PMreport abuse

Honesty/dishonesty

It's about time we brought in a nationalized standard for the way that homes are valued and thw way that offers of home loans are presented and compared against national, regional and local averages so that even the least smart buyers can see to what extent they are being ripped off. Because rip-off merchants are at the heart of the problem here, not honest operators.

By Martha @ 03/07/09 05:23:14 PMreport abuse

Bob

Jery's picking a fight with the wrong target, but the Iraq war was wrong. Hundreds of thousands of men, women and children have died - some people believe close to a million people and four million more have had to flee their homes, for wha?? So that they can have a ballot every couple of years in return for no electricity and no jobs? What a disaster. Not to mention that it cost us four thousand young men and about three and a half trillion dollars. I don't blame our soldiers one bit. But we're going to have to live with the shame of that for the rest of our lives. It's no wonder the world is relieved to see that we have a new president and - finally - a new direction. Thank God.

By Emory @ 03/07/09 02:11:43 AMreport abuse

Re: Martha again

Yes,the largely unregulated mortgage originators started the landslide. Fannie and Freddie made the problem bigger by changing their policy and beginning to buy these loans, and Wall st wrapped it all up in a neat little package that turned out to be a ticking time bomb.
As for the military members, if there is one group that deserves a bailout on this, it is them, after the way they have misused the last ten years. What a horrible decade!

By blackbird13 @ 03/07/09 01:07:58 AMreport abuse

Jerry

Only a fool like Jerry can make such statements about those of us in the military. However, while it seems Jerry is educated and values education for his children he only sees what he wants to and has never seen how others live around the world to fully understand that freedom is not free and is something that has to be won through the blood, sweat and tears of others willing to make the sacrifice. Jerry seems to be a peace loving person, but I wonder how he would react if that peace was threatened. Who would Jerry call on to save that freedom when words are not enough? Jerry, I recommend you educate yourself a little more about the military, the soldiers that serve, and what our mission is before you pass judgment on us. The sacrifices of our soldiers and their families are great and we help people around the world that we don’t even know. What have you done for those that do not have the same freedoms as you? How many lives have you touched around the world? How many lives in third world country have you saved from oppression? Our military does these things and more every day.

By Bob @ 03/07/09 12:44:24 AMreport abuse

What's interesting...

...is that nobody has yet pointed the finger at the slick, slippery mortgage brokers who, in cahoots with their sidekicks the property valuers, made so many of these mortgages and property sales happen based on barely believable financial positions and outlooks of their clients including many military people. I'd like to see these sharp operators looked at closely. I think they have a lot to answer for. They reassured a lot of very well-intentioned people that they could manage debt that was in reality probably not manageable in my opinion.

By Martha again @ 03/07/09 12:31:40 AMreport abuse

In my day...

Back in the day, there used to be military housing supplied more or less thoughout one's career. Perhaps we should bring that back and allow our miliraty to build up savings thoughout their careers to purchase a property when they retire from service.

By Eddie @ 03/06/09 11:40:00 PMreport abuse

Hey Jerry! From a military spouse here is my advice for you. Go ahead and keep saying what you want. It is your freedom that our military provides for your family and your right to make such idiotic statements. Move to Iraq if you dont like your freedom. Maybe a year in a country that is not free will make you stop saying senseless statements. You will not be missed if you move. Bye Bye Jerry and dont come back to America home of the brave....

By Lori @ 03/06/09 11:07:55 PMreport abuse

To Jerry

hahahahahahahhhahaha Jerry that was so funny!!!

By Shawn @ 03/06/09 10:59:51 PMreport abuse

Military Homeowners

More to the point... Clark used to recommend home ownership to folks that could commit six or seven years to living in the house that they bought. Seems like good advice in hindsight, doesn't it? Maybe home ownership simply isn't a good prospect for folks who are on the move every two or three years. Seems that Clark thought not (at least at one time if my memory serves correctly. Obviously, I don't speak for him.) Good luck to you all - Martha.

By Martha @ 03/06/09 10:52:38 PMreport abuse

I can't believe you said such a thing. Thank God for the Military and the people that are willing to join to defend our Freedom. Go try living in Cuba if you don't think Freedom is worth fighting for.

By Another Pat @ 03/06/09 03:42:21 PMreport abuse

Jerry,
My Salary is fine thank you. I like many other military people got caught in a squeeze that was caused in large part by a poor government policy encouraging loans to people not based on ability to pay them back but on social factors. FANNIE and FREDDIE lead the charge and I like many others are collateral damage of this poor policy.

Sleep well knowing that I like many others are willing to give our lives to protect your right to make foolish statements.

By Pat @ 03/06/09 02:31:33 PMreport abuse

Military Homeower

I think it should be good for the moral of Solders who has chosen the military as a career.To the person who made the comment about Solders should have chosen another career.This person has nothing for which he is willing to fight,nothingwhich is more important than his own personel safety, is a miserable creature,and has no chance of being free unless made or kept so by the exertions of better men then himself.

By SGT Moore @ 03/06/09 02:19:27 PMreport abuse

If you didn't want to earn a dismal salary and get shot at for a living, perhaps you should have chosen another career? You did have a choice, you know.

By Jerry @ 03/06/09 12:54:19 PMreport abuse

While it is nice of the Congress to offer relief to those of us thathave to move every 3 or 4 years 90% of the purchase price. If you have a 200,000. house means that I have to take a 20,000 loss. While it is nice it not as good a deal as some people who should never have bought a house are getting. If the Congress really wanted to help the military members then they should have offered 100% of the purchase price.

By Pat @ 03/06/09 06:34:57 AMreport abuse

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Mar 05, 2009 -- Military homeowners benefit from stimulus package

What others are saying