182592 Resource 125794 125888 125888 1189356476107 1189356857674 Controlled Military Homeowners Face Foreclosure

My opinion: Military families deserve relocation benefits similar to their civilian counterparts.

<p>Pfizer recently transferred several hundred employees to Eastern Connecticut from Michigan.&nbsp;Many of these&nbsp;employees who owned&nbsp;houses in Michigan would have faced&nbsp;a loss on the sale of their home, if not for Pfizer's relocation package which included a &quot;loss on sale&quot; clause.&nbsp; The clause is typical of many <strong>corporate relocation packages which allow employees who sell their home at a loss, to be reimbursed</strong> the difference between the original purchase price and the sale price.&nbsp; This is especially important for those&nbsp;who bought their homes in the last couple of years, as prices have been flat or fallen in most parts of the country, with Michigan no exception.</p><p>Over the past few months, I've met with several <strong>military families stationed at the Submarine Base in Groton</strong> facing the possibility of foreclosure.&nbsp; These families, in service to our nation, have been transferred from the Groton area, but unlike corporate transferees do not have the same protection with a &quot;loss on sale&quot; or other typical corporate benefits.&nbsp; <strong>Any military family who bought a home since 2005 and&nbsp;is now being transferred is facing a dismal situation</strong> especially if they used a 100% mortgage product, like VA or the Veteran's Choice program offered by the local Navy Federal Credit Union.&nbsp;With prices flat and inventory building, these families are most likely looking at a loss after paying seller closing costs.&nbsp; <strong>Foreclosure is becoming an option for too many.</strong>&nbsp; </p><p>Somehow it doesn't seem quite right.&nbsp;Yes, I know military personnel have&nbsp;benefits; good medical coverage,&nbsp;use of the commissary,&nbsp;a housing allowance, but&nbsp;they also spend large amounts of time away from home, sometimes in dangerous situations.&nbsp;&nbsp;</p><p>So I ask...&nbsp;If a member of the military is transferred as part of their service to the nation, <strong>shouldn't there be a military relocation program similar to that of civilians?</strong>&nbsp; </p> 9 application/xml Military relocation Pfizer corporate relocation benefits Submarine Base in Groton Corporate relocation package for Pfizer transferees http://blog.ctrelocation.com/public/item/162486 false Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1; SU 3.005; .NET CLR 1.1.4322) 127.0.0.1 127.0.0.1 ldavis false true false false true 205810 false false true false false false true 125794 blog blogsite/CTRelocation/web