A Place to Come Home to

As I was reading a post earlier today submitted by Broker Bryant, I came across a comment from someone who had to recently do a short sale for one of our servicemen serving in Iraq. The agent did say the government helped out on this one.

My gut reaction was, this should never happen.

Imagine you were that person, fighting for our country in a foreign land. You have left your family in the safety of your home and pray you return to them soon.

You have little control over the day to day happenings in your home. The baby gets sick, your spouse loses their job, a number of little problems to attend to which cause a temporary spike in the monthly budget. Maybe it extends over a two or three month period. Whatever "IT" is, IT should never be the cause of a serviceman or woman losing their home.

My goal is to let you know there is help for our servicemen and women when life happens and the bank starts calling about a delayed payment, or worse, sends a foreclosure notice. Whether you are REALTOR, friend or family member of someone whose family is in the service and needs some assistance, there are people who offer help.

The Servicemembers Civil Relief Act (SCRA) offers protection to our servicepeople as it pertains to real estate and mortgages. The interest rate on a mortgage of a person called to active duty can be capped at 6% for the time they are called to active duty and will remain so until they return from active duty. The burden of notifying the lender or bank rests on the person called to duty. Additionally, the mortgage must have originated before the person was called to active duty. See complete guidelines to the SCRA here.

Those who find themselves in financial difficulty can also find help at www.USACares.US. This non-profit group assists the families of those called to active duty. Often times the money and goods provided by USACares can be the difference between making the mortgage payment or not.

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Paula Henry is an Indianapolis Realtor with Red Door Real Estate, serving the needs of homeowners in Indianapolis, Speedway, Hendricks County, Zionsville, Carmel, Fishers and Eagle Creek. When you're ready to buy or sell your home, you want an agent with a plan for helping you attain your dreams and goals. Contact Paula for your Indianapolis real estate needs.