The massive economic rescue bill enacted into law last month includes a provision to help military families forced by deployment or other eligible circumstances to sell their houses at a loss in today’s down market. Under the provision, the federal government will cover 95 percent of a loss. The law applies to service members with mortgages entered into before July 1, 2006. An online resource from the U.S. Department of Defense can help you learn if your client is eligible for the assistance. For more info contact Megan Booth at 202-383-1222.

Reprinted from Bay East Association of Realtors