Are You a Veteran?

Veterans and Active Military Service Benefit from HERA

From financial counseling to foreclosure prevention, the Housing and Economic Recovery Act of 2008 aims to preserve the American Dream for our nation’s veterans. The legislation offers the following benefits to ensure that our armed forces have enhanced homeowner protection:

• To help avoid foreclosure, this bill lengthens the time a lender must wait before starting foreclosure procedures from three months to nine months after a soldier returns from service.
• For soldiers returning from service abroad, the bill allots for a one-year relief from increases in adjustable mortgage rates.
• The bill requires the Department of Defense to establish a counseling program to ensure that veterans and active duty service members can access assistance if facing financial difficulties.
• The legislation includes a provision that increases the Veteran’s Administration home loan guarantee amount so veterans are able to have additional homeownership opportunities.
• Increased benefits are paid to disabled veterans with service-connected disabilities for the purpose of adapting their home.
• If service men and women are forced to move out of rental housing because the owner was foreclosed, the bill provides moving benefits.
• Veterans benefits that are received in a lump sum are treated the same as monthly benefits for the purposes of eligibility for housing assistance.

If you are a veteran or active military personnel and would like to know more about the assistance you’re provided through HERA, please visit the Florida Department of Veterans’ Affairs. You can find a list of County Veteran Services Offices in Florida at www.floridavets.org/organization/cvso.pdf.