Monday, January 9, 2012

Military Update: Petreaus: ?Underwater? home loans force families apart

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Many military homeowners who saw their homes plummet in value in the financial crisis still can?t get relief from ?under water? mortgages that leave families owing more to loan servicers than their homes are?worth.

The situation is especially difficult for the military where families must move every two to four years.? Some affected members, on receiving orders to new assignments, are leaving families behind in these homes to avoid a hard hit to family finances or loan defaults, which would harm credit?ratings.

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Source: http://www.svherald.com/content/community/2012/01/06/242625

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