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Fighting Foreclosures in the Air Force
Fighting Foreclosures in the Air Force

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AIR DATE: September 1, 2011

Many Las Vegans have been hit hard by foreclosures and underwater mortgages.  They might walk away from their home or take on debt when they sell an underpriced home.  But when an Air Force member does so, that servicemember risks losing security clearance - and in some cases, even lose their jobs.  The housing market has forced some servicemembers to live in trailers, or even move to different states.  How has the hard-hit market affected those at Nellis Air Force Base, and what options do they have left?  And how is their situation different than the average underwater homeowner?
 
GUESTS
Col. John Montgomery, US Air Force
Lt. Col. David Berke, US Marine Corps
Major John Royal, US Air Force
Fred Arquilla, owner and principal, Arquilla and Assoc; former JAG lawyer

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COMMENTS:
Just to think that our military people are forced to have to deal with financial pressures as well as protecting our families by being out there in the war zone is very degrading to our country. Make things a little easier by coming up with a plan that will be fair to all and not for just a few.
JudyAug 31, 2011 12:38:23 PM
Mr. Becker,again thanks for the opportunity to talk about this issue. The one area we didn't get into is our young Airmen are the ones really hurting. Today we were talking with officers with 15-25 years in the military. The real issue is our airmen with 0-7 years of experience. They have suffered the same loss and don't have the same resources to absorb the impact. Those young folks are going to feel the brunt over the next two years as they begin to move. As you said, 740 Nellis/Creech members are underwater and they will all move in the next three years. My best Col John Montgomery
Col John MontgomeryAug 31, 2011 10:08:43 AM
I am incensed that these men who have dedicated so many years of their lives to the service of our country are now being punished for the downfall of the economy. Both the Bush and the Obama administrations deemed the banking and mortgage lending industries too big to fail. These crooks who were in part the cause of the problem were shielded from the consequences of their idiotic financial decisions via the forced largesse of American taxpayers. Yeah, most of them have repaid their loans to the U. S. Treasury with interest; but that was done at least in part by their intransigent refusal to lower either the principal amount or the interest rate of their mortgage customers. We bailed out these bastards with our taxes and they in turn told us to go pound sand. I am frankly astounded that bloodshed has not yet occurred over this travesty. I also believe that the operative word in the preceding sentence is "yet."
Bob GloverAug 31, 2011 09:43:22 AM
Bob, thanks for your passion. All we have been asking for is a review of the policy and see what comes of it. If our civilian leaders tell us...in your words...."to go pound sand", we will, but right now the discussion isn't occuring and we hope it will. Thanks again Col John Montgomery
John MontgomeryAug 31, 2011 10:10:59 AM
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