Military Families To Benefit From New Obama Plans

Obama announced new housing initiatives on Tuesday


President Obama has announced that an agreement has been made to review home foreclosures for military members that occured since 2006, the Washington Post reported.

Those who "wrongfully lost a home" will be compensated, the article says.

Military members or veterans whose foreclosures qualify will receive at least $116,785 in addition to home equity lost due to the foreclosure, the Washington Post reported.

The article also explains that service members who were "wrongly denied" refinancing opportunities will qualify for a refund.



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