EFFORT TO BOOST MILITARY HOME BUYING POWER

Posted at 2:01 PM, Oct. 1, 2006

Freddie Mac announced it is expanding its Home Possible affordable mortgage suite to boost the home buying power of nearly 1.5 million US military personnel in response to calls from Senator Ben Nelson (D-NE) of the Senate Armed Services Committee, the Hispanic War Veterans of America and different lenders to help more military families become homeowners. The Home Possible changes are expected to increase by as much as 30% the home buying power of members of the Army, Navy, Air Force, Marines, Coast Guard, and National Guard on active duty, in the reserves, or separated from their respective services by less than two years. "Today's announcement is good news for military families looking to own their own home and share in the American Dream they are fighting to protect for all of us," said Nebraska's Senator Ben Nelson. (Source: Freddie Mac)   Full Story . . .