military protections and benefits

military protections and benefits

There are a number of protections and benefits for current and former members of the armed services,the reserves,and the national guards. They include

• The Homeowners Assistance Program for military personnel stationed at or near a military installation scheduled for closure or realignment. It is administered by the U.S. Corps of Engineers, which may purchase homes, reimburse persons for losses on the sale of their homes, or pay off mortgages if such markets are depressed. See the Web site for the Savannah District of the U.S. Corps of Engineers,, for details.

• The Soldiers and Sailors Civil Relief Act, passed by Congress at the start of World War II, requires automatic reduction of home mortgage interest rates to 6 percent under certain circumstances and a variety of other protections from eviction, lapse of life insurance, garnishments, and lawsuits. See the entry for Soldiers and Sailors Civil Relief Act for details.

• Mortgage guarantees by the Veterans Administration.

• The GI Bill (, now called the Montgomery GI Bill, which offers support for veterans seeking postsecondary education.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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