DEBT PAYMENT

January 1982

($000)

FY 1983 Program $43, 184
FY 1982 Program $45,740

Purpose and Scope

This program includes payment of mortgage principal, interest and other expenses on remaining indebtedness for Capehart and acquired Wherry housing and payment of Servicemen's Mortgage Insurance Premiums to FHA for mortgages assumed by active military personnel for housing purchased by them.

Program Summary

Authorization is required for the appropriation of $43,184,000.

A summary of the status of the indebtedness assumed by Army to acquire quarters for military family housing is as follows:

January 1982

HOMEOWNERS ASSISTANCE FUND, DEFENSE

(In Thousands)
FY 1982 Program $6,000
FY 1983 Program $6,000

Purpose and Scope

This program is authorized in Public Law 89-754 (80 Stat. 1255, 1290). as amended. It reduces financial losses to military and civilian employee homeowners incurred through disposal of their homes because of base closures or reductions in the scope of operations. Assistance is by either reimbursement for certain losses on private sale or foreclosures, or purchase by the Secretary of Defense. The Department of the Army administers this program. Only properties improved with a one- or two-family dwelling are eligible.

Program Summary

Normally, the resources necessary to finance this program are derived
partially from the recovery of the Government investments in
properties through sale. The resources required to replenish the
fund are not materializing as anticipated due to the poor housing
market, and as a consequence, the fund requires an appropriation of
$4,000.00 to keep it solvent.

A summary of the funding program for Fiscal Year 1983 follows: