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New Bipartisan Bill Introduced to Give Service Members Housing Literacy Counseling
Congresswoman Kristen McDonald Rivet (MI-08) and Congressman Pat Harrigan (NC-10) have introduced the bipartisan "Military Financial Literacy Act."
(DVIDS photo by Sgt. Dakota Bradford)
Backed by the Veterans of Foreign Wars (VFW), Veterans Association of Real Estate Professionals (VAREP), and Vietnam Veterans of America (VVA), The Military Financial Literacy Act would require the Pentagon to "partner with counseling organizations to provide personalized guidance to service members on topics including budgeting, predatory lending, housing decisions related to Permanent Change of Station orders, and home loans through the Department of Veterans Affairs."
“Our troops and their families make huge sacrifices to keep us safe. When they return, we need to do everything possible to help them thrive, which includes making it as easy as possible to find and buy a home,” said Congresswoman McDonald Rivet. She went on to say, “The Military Financial Literacy Act is a commonsense step to ensure service members who want it get expert, personalized counseling on how to best find the right home for their families to build a life.”
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Congressman Harrigan expanded on this by saying, “Service members are constantly on the move, dealing with VA benefits, new housing markets, and unfortunately, lenders who see them as easy targets. A quick briefing just doesn't cut it." Adding, "This bill gets them in front of a real expert, one on one, who can walk them through their credit, their budget, their VA home loan options, and their legal rights as a service member. I'm proud to co-lead this because these men and women have enough to worry about defending this country. Their financial future shouldn't be one of them.”
Currently, the Pentagon is not required to provide service members with any housing literacy training. Read all the specifics here.
