An official website of the United States government
Here's how you know
A .mil website belongs to an official U.S. Department of Defense organization in the United States.
A lock (lock ) or https:// means you’ve safely connected to the .mil website. Share sensitive information only on official, secure websites.

NEWS | Oct. 1, 2008

Financial resources available for Airmen, families

By Staff Sgt. Sam Hymas 437th Airlift Wing Public Affairs

Just by picking up a newspaper these days, Airmen can read all about economic crises and financial doom and gloom.

Many Americans are facing foreclosure or are having other mortgage problems.

But according to reports and data obtained from the military services, only a small number of service members are facing foreclosure, said David Chu, Undersecretary of Defense for personnel and readiness, in a recent letter to commanders.

"Although current economic conditions in our country are causing higher rates of foreclosures of owned properties for many Americans, these same conditions do not appear to be forcing a significant number of foreclosures within the military," Mr. Chu said.

Even though, as a service, the Air Force hasn't seen an increase in foreclosures, assistance is available from a wide variety of sources for Airmen and their families who are facing mortgage problems.

The first step homeowners should take is to immediately contact their lender and let them know of the situation. Most lenders will work with homeowners to prevent a mortgage from going into default.

Also, the Department of Housing and Urban Development has trained counselors standing by to meet with, counsel and represent homeowners in matters relating to foreclosure. HUD can be contacted directly at 1-800-569-4287 and through their Web site at

Trained consultants are also available at Military One Source at 1-888-342-9647 and at the Web site to provide information and connect callers to appropriate resources based on their issues.

Locally, Airmen can contact the 437th Airlift Wing Legal Office and the Airman and Family Readiness Center for assistance with mortgage problems.

Even though the military hasn't seen an increase in foreclosures, that doesn't mean current economic conditions haven't affected Airmen and their families. With increases in food and energy costs Airmen may be feeling the "squeeze."

The A&FRC is ready to help Airmen and their families with financial problems should they arise, but their focus is on prevention of problems in the first place.

"Prevention is always the best," said Elsa Summers, A&FRC community readiness consultant. "If you think you might, maybe have any sort of problem at all, please come see us."

Ms. Summers is one of several A&FRC staff who is trained to offer financial help through a one-on-one basis.

Airmen can schedule a financial consultation with A&FRC community readiness consultants by calling 963-4406.

The A&FRC has also partnered with Family Services, a non-profit organization that provides many financial courses, including mortgage default counseling, for those in need.