Political Quotes

“The purpose of this amendment is to provide the Secretary of Defense the flexibility to change the effective date of the Homeowners Assistance Program for members of the Armed Forces permanently reassigned during the mortgage crisis. The program, as approved by Congress last year, allows active-duty servicemembers to be partially reimbursed for losses occurring as a result of having to sell their home upon being reassigned. Under current law, a servicemember must have purchased his or her home before July 1, 2006, in order to qualify for assistance. Many of these armed servicemembers were assigned to southern Nevada at the height of the housing boom when prices were fueled by out-of-control and reckless speculators. They, and others around the country, purchased homes at what was then a fair market price. Now, due to no fault of their own, however, many of these homes have lost a significant amount of their value.”